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Ac2760 Wk 5 Assignment

AC2760 Week 3 Assignment Read the following scenario, and complete the form on the following worksheet: Jacksonville Financial Services Co., which specializes in appliance repair services, is owned and operated by Cindy Latty. Jacksonville Financial Services Co.'s accounting clerk prepared the unadjusted trial balance at December 31, 2011, shown below. Jacksonville Financial Services Co. Unadjusted Trial Balance December 31, 2011 Debit Credit Balances Balances Cash 10,200 Accounts Receivable 34,750 Prepaid Insurance 6,000 Supplies 1,725 Land 50,000 Building 80,750 Accumulated Depreciation -- Building 37,850 Equipment 45,000 Accumulated Depreciation -- Equipment 17,650 Accounts Payable 3,750 Unearned Rent 3,600 Capital Stock 25,000 Retained Earnings 78,550 Dividends 8,000 Fees Earned 158,600 Salaries and Wages Expense 56,850 Utilities Expense 14,100 Advertising Expense 7,500 Repairs Expense 6,100 Miscellaneous Expense 4,025 325,000 325,000 The data needed to determine year end adjustments are as follows: (a) Depreciation of building for the year, $2,100.

Unformatted text preview: Accounts containing only a single entry do not need a balance. Name: Cheyenne Shaw Section: Enter the appropriate amount or item in the shaded cells. An asterisk (*) will appear next to an incorrect entry in the outlined cells. 1. Journal - Mitch Realty Description Debit Credit (a) Cash 18,000 Capital Stock 18,000 (b) Supplies 1,200 Accounts Payable 1,200 (c) Cash 14,000 Sales Commissions 14,000 (d) Rent Expense 2,800 Cash 2,800 (e) Accounts Payable 750 Cash 750 (f) Office Salaries Expense 3,000 Cash 3,000 2. Ledger - Mitch Realty Cash Capital Stock (a) 18,000 (d) 2,800 (a) 18,000 (c) 14,000 (e) 750 (f) 3,000 6,550 Sales Commission Bal. 25,450 (c) 14,000 Supplies Office Salaries Expense (b) 1,200 (f) 3,000 Accounts Payable Rent Expense (e) 750 (b) 1,200 (d) 2,800 Bal. 450 3. MITCH REALTY Unadjusted Trial Balance March 31, 2012 Debit Credit Cash 25,450 Supplies 1,200 Accounts Payable 450 Capital Stock 18,000 Sales Commissions 14,000 Rent Expense 2,800 Office Salaries Expense 3,000 32,450 32,450...
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