The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise...
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The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory. amounted to $59,675 on January 1, 20X1, and $52,625 on December 31, 20X1. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. Accounts 401 Sales 451 Sales returns and allowances 491 Miscellaneous income 501 Purchases 502 Freight in 503 Purchases returns and allowances 504 Purchases discounts 611 Salaries expense-Sales 614 Store supplies expense 617 Depreciation expense-Store equipment 631 Rent expense 634 Utilities expense 637 Salaries expense-Office 640 Payroll taxes expense 643 Depreciation expense-Office equipment 646 Uncollectible accounts expense 691 Interest expense $248,200 Cr. 4,340 Dr. 390 Cr. 103,500 Dr. 1,965 Dr. 3,590 Cr.. 1,790 Cr. 45,200 Dr. 2,300 Dr. 1,500 Dr. 13,400 Dr. 2,990 Dr. 21,000 Dr. 5,900 Dr. 560 Dr. 710 Dr. 720 Dr. The worksheet of Bridget's Office Supplies contains the following owner's equity accounts. Accounts 301 Bridget Swanson, Capital 302 Bridget Swanson, Drawing Net income for the year $42.835. The worksheet of Bridget's Office Supplies contains the following asset and liability accounts. The balance of the Notes Payable account consists of notes that are due within a year. Accounts 101 Cash. 107 Change fund 111 Accounts receivable $63,660 Cr. 40,650 Dr. 112 Allowance for doubtful accounts 121 Merchandise inventory 131 Store supplies 133 Prepaid interest 141 Store equipment 142 Accum. depreciation-store equipment 151 office equipment 152 Accum. depreciation-office equipment 201 Notes payable 203 Accounts payable. 216 Interest payable 231 Sales tax payable $ 5,605 Dr. 490 Dr. 5,130 Dr. 850 Cr. 52,625 Dr. 1,090 Dr. 125 Dr. 11,100 Dr. 1,170 Cr. 3,380 Dr. 490 Cr. 5,490 Cr. 3,715 Cr. 105 Cr.. 1,880 Cr. Prepare a balance sheet dated December 31, 20X1. Current Assets Prepaid Expenses Total Current Assets Plant and Equipment Store equipment Office equipment Assets Total plant and equipment Total Assets Current Liabilities Liabilities and Owner's Equity BRIDGET'S OFFICE SUPPLIES Balance Sheet Total Current Liabilities S $ $ 0 0 0 0 0 Current Liabilities Total Current Liabilities Owner's Equity Total Liabilities and Owner's Equity S S 0 0 The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory. amounted to $59,675 on January 1, 20X1, and $52,625 on December 31, 20X1. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. Accounts 401 Sales 451 Sales returns and allowances 491 Miscellaneous income 501 Purchases 502 Freight in 503 Purchases returns and allowances 504 Purchases discounts 611 Salaries expense-Sales 614 Store supplies expense 617 Depreciation expense-Store equipment 631 Rent expense 634 Utilities expense 637 Salaries expense-Office 640 Payroll taxes expense 643 Depreciation expense-Office equipment 646 Uncollectible accounts expense 691 Interest expense $248,200 Cr. 4,340 Dr. 390 Cr. 103,500 Dr. 1,965 Dr. 3,590 Cr.. 1,790 Cr. 45,200 Dr. 2,300 Dr. 1,500 Dr. 13,400 Dr. 2,990 Dr. 21,000 Dr. 5,900 Dr. 560 Dr. 710 Dr. 720 Dr. The worksheet of Bridget's Office Supplies contains the following owner's equity accounts. Accounts 301 Bridget Swanson, Capital 302 Bridget Swanson, Drawing Net income for the year $42.835. The worksheet of Bridget's Office Supplies contains the following asset and liability accounts. The balance of the Notes Payable account consists of notes that are due within a year. Accounts 101 Cash. 107 Change fund 111 Accounts receivable $63,660 Cr. 40,650 Dr. 112 Allowance for doubtful accounts 121 Merchandise inventory 131 Store supplies 133 Prepaid interest 141 Store equipment 142 Accum. depreciation-store equipment 151 office equipment 152 Accum. depreciation-office equipment 201 Notes payable 203 Accounts payable. 216 Interest payable 231 Sales tax payable $ 5,605 Dr. 490 Dr. 5,130 Dr. 850 Cr. 52,625 Dr. 1,090 Dr. 125 Dr. 11,100 Dr. 1,170 Cr. 3,380 Dr. 490 Cr. 5,490 Cr. 3,715 Cr. 105 Cr.. 1,880 Cr. Prepare a balance sheet dated December 31, 20X1. Current Assets Prepaid Expenses Total Current Assets Plant and Equipment Store equipment Office equipment Assets Total plant and equipment Total Assets Current Liabilities Liabilities and Owner's Equity BRIDGET'S OFFICE SUPPLIES Balance Sheet Total Current Liabilities S $ $ 0 0 0 0 0 Current Liabilities Total Current Liabilities Owner's Equity Total Liabilities and Owner's Equity S S 0 0
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Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
4th edition
Authors: David Haddock, John Price, Michael Farina
Posted Date:
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