TO: FROM: RE:

Peter George Janine Martins Accounting Procedures

Please prepare from the following information (attached).

(1) A worksheet, along with

(2) Journalized adjusting and closing entries for the year ending May 31, 2014.

Adjustment Data
a. Insurance expired, $510.75
b. Disposal supplies on hand, $723
c. Amortization for the year on disposal equipment is based on the straight- line method, 12-year life, and a residual value of $850.
d. Amortization for the year on building is also straight-line, 20-year life, and a residual value of $25,000.
e. Wages earned by employees but not due to be paid until June amounted to 36 hours at $18/hour plus 30 hours at $24/hour.
ECO DOCUMENT DISPOSAL COMPANY
TRIAL BALANCE
MAY 31, 2014

Transcribed Image Text:

POTTER CLEANING SERVICE WORKSHEET FOR MONTH ENDED MARCH 31, 2013 Trial Balance Cr Adjusted Trial Balance Income Statement Balance Sheet Dr. 7 2400 15o DO 20000 Dr. Dr. Cr. 172 400 35000 80000 122000 2400 Prepaid Insurance Cleaning Supplies Auto Accumulated Amortization, Auto Accounts Payable B. Potter Capital B. Potter, withdrawals Cleaning Fees Salaries Expense Telephone Expense Advertising Expense (A)200,00 (B) 60000 20000 22000 2 200 66000 67400 248 000 (C) 5000 81000 67400 248000 81000 67 400 248000 60000 60000 60000 370000 370000 370000 200 000 2 8400 27600 26000 D)17 500 17500 28400 27 600 26000 26 000 751 400 51 400 Insurance Expense Cleaning Supplies Expense Amortization Expense, Auto Accrued Salaries A) 20000 20000 60000 15000 200 p0 (B) 600 00 (C) 150 00 15000 (D) 17 500 175 00 17500 11:12500 11 2500 783900|7:8 3 900 3194500 370000 389400|413900 24500 24500 394500394500 413900 413900 Debit Credit Cash Accounts Receivable Prepaid Insurance Disposal Supplies Disposal Equipment Accumulated Amortization, Disposal Equipment Buildin Accumulated Amortization, Buildin Accounts Payable J. Martin, Capital 22 46000 120000 68100 15 4200 1174000 726000 4800000 2070000 466 000 4868100 Martin, Withdrawals Disposal Fees Revenue Wages Expense Utilities Expense Advertising Expense 167 4200 527 2000 282 4000 2544 00 87200 Totals 13 4 02 100 13 402100