The owner of Patel Antique Clock Company of Churchill has asked you to prepare a worksheet from the following trial balance and additional data:
PATEL ANTIQUE CLOCK COMPANY
TRIAL BALANCE
MAY 31, 2014

Additional Data
a. and b. Ending clock inventory on May 31, 2014, $12,488.92
c. Supplies on hand at May 31 totalled $376.40
d. Insurance expired, $502.51
e. Amortization expense on equipment for the year ending May 31, 2014, is calculated using the straight-line method, 10-year life with a residual value of $600.
f. Advertising bill received, $300, plus GST of $15
g. Employees had worked but not been paid for 43.5 hours at $12 per hour at year-end.

Transcribed Image Text:

r. r. Cash Petty Cash Accounts Receivable Beginning Clock Inventory, June 1 Repair Supplies Prepaid Insurance GST Prepaid Clock Repair Equipment Accumulated Amortization, Repair Equipment Accounts Payable GST Collected 762 40 5000 2715 96 10766 42 62 430 75376 696 12 430000 148000 8686 92 91248 1155 40 167 70 27860 556608 Income Tax Payable CPP Payable El Payable Mike Patel, Capital Mike Patel, Withdrawals Income Summary Sales Sales Returns and Allowances Sales Discounts Purchases Purchases Discounts Purchases Returns and Allowances Freight-In Salaries Expense Payroll Taxes Expense Advertising Expense Rent Expense Utilities Expense 438000 5701408 267 10 176 42 30488 92 27744 51286 1096 33 1347500 1276 40 721 68 278800 61275 7605 156 7605156