Question: Please help me. I don't understand this topic. please use an 8-column worksheet for each question (despite the fact that one asks for a 10
Please help me. I don't understand this topic.
please use an 8-column worksheet for each question (despite the fact that one asks for a 10 column worksheet)



7. The trial balance for Latin Beat follows. Prepare an eight-column work sheet for the year ended December 31, 20--, using the following additional information: . Supplies on hand on December 31 are valued at $200. . The declining-balance method of depreciation is used, and equipment depreciates at the rate of 20 percent per year. Latin Beat Trial Balance December 31, 20-- Account Acc. No. Debit Credit Cash 100 $ 12 000 Accounts Receivable 102 2 000 Supplies 131 700 Equipment 141 45 000 Accumulated Depreciation-Equipment 142 $ 15 400 Accounts Payable 200 3 000 5. Monzo, Capital 300 34 600 S. Monzo, Drawings 301 30 000 Sales 400 155 000 Salaries Expense 500 82 000 Rent Expense 501 28 000 Telephone and Internet Expense 502 3 400 Miscellaneous Expense 503 1 900 Office Expense 504 3 000 $208 000 $208 0008. Prepare a ten-column work sheet for Health Care Consultants using the trial balance on the next page and additional information given below. The fiscal period is one year. . Supplies on hand on December 31 are valued at $700. The three-year insurance policy was purchased on January 1 for $7200. . The declining-balance method of depreciation is used to record depreciation for office equipment (20 percent per year) and automobiles (30 percent per year).Health Care Consultants Trial Balance December 31, 20-- Account Acc. No. Debit Credit Cash 100 $ 4 500 Accounts Receivable 102 7 000 Supplies 131 2 000 Prepaid Insurance 132 7 200 Office Equipment 141 16 000 Acc. Depreciation-Office Equipment 142 $ 3 200 Automobile 143 32 000 Acc. Depreciation-Automobile 144 16 320 Accounts Payable 200 1 500 S. Katz, Capital 300 34 980 5. Katz, Drawings 301 36 000 Fees Income 400 139 000 Salaries Expense 500 70 000 Rent Expense 501 14 400 Automobile Expense 502 800 Utilities Expense 503 2 100 Office Expense 504 3 000 $195 000 $195 000
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