Unadjusted trial balance Dr Adjusted T/B Cr 1 Acc no Account names Adjustments Dr Income statement Balance sheet Cr cr $1,410,000.00 $ 432,020.00 15,000.00 $ 250,000.00 Cr Dr Dr Cr Dr 100 Cash 110 Accounts rec 120 Supplies inventory $ 3,000.00 130Equipment 135 Acc dep 200 Accounts pay 210 salaries payable 300 N capital 310 N drawings 400 service revenue 500salaries exp 510 dep exp 520 supplies exp 5 transportation exp S 34,020.00 540 insurance exp 550 Misc exp $1,430,000.00 $ 432,020.00 $1,430,000.00 4 $ 432,020.00 $18,000.00 S 15,000.00 6 $ 250,000.00 $ 250,000.00 $ 48,000.00 $ 232,400.00 $ 10,000.00 $ 48,000.00 $ 232,400.00 $ 10,000.00 $1,836,620.00 $48,000.00 $ 232,400.00 $10,000.00 10 $1,791,820.00 $1,791,820.00 11 $ 550,000.00 $ 550,000.00 12 $1,342,320.00 $1,42,120.00 $1,42,320.00 $ 480,500.00 $10,000.00 $48,000.00 $18,000.00 13 $ 490,500.00 $490,500.00 $ 48,000.00 $138,400.00 14 48,000.00 $ 120,400.00 $ 138,400.00 15 $ 34,020.00 $ 32,100.00 $ 4,500.00 16 34,020.00 $ 32,100.00 4,500.00 17 32,100.00 18 4,500.00 19 20 Net profit $594,800.00 21 22 $3.366.540.00 $3.366.540.00 S76,000.00 $76.000.00 S3424,540.00 $3424,540.00 $747,520.00 $1.42,320.00 $2.127.020.00 $2,127.020.00

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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prepare the Statement Financial Performance, Statement of Changes in Equity and Statement of Financial Position.

Additional Information for the adjusments:
a. Physical count for inventory on Dec. 21, 2019 amounted to $15,000
b.Equipment is acquired on Dec. 2019 with 5 useful life and 10,000 salvage value.
c. Accrued Salaries amounted to $10,000

A.
G
H
K.
L
Unadjusted trial balance
Dr
Adjusted T/B
cr
1 Acc no Account names
Adjustments
Balance sheet
Cr
$1430,000.00
Income statement
Cr
Dr
Dr
Dr
Cr
Dr
100 Cash
110 Accounts rec
120 Supplies inventory $ 33,000.00
130 Equipment
135 Acc dep
200 Accounts pay
210 salaries payable
300N capital
310N drawings
400 service revenue
$1,430,000.00
$ 432,020.00
3
$1,430,000.00
$ 432,020.00
$ 432,020.00
$18,000.00 | $ 15,000.00
$ 250,000.00
4
15,000.00
6
$ 250,000.00
$ 250,000.00
$ 48,000.00
$ 232,400.00
$48,000.00
48,000.00
$ 232,400.00
$ 232,400.00
$10,000.00
10,000.00
10,000.00
10
$1,791,820.00
$1,791,820.00
$1,836,620.00
11
$ 550,000.00
$ 550,000.00
12
$1,342,320.00
$1,342,320.00
$1,342,320.00
500 salaries exp
510 dep exp
520 supplies exp
530 transportation exp$ 34,020.00
540 insurance exp
13
$ 480,500.00
$10,000.00
$ 490,500.00
$490,500.00
$ 48,000.00
$138,400.00
14
$48,000.00
48,000.00
15
$ 120,400.00
$18,000.00
$ 138,400.00
$ 34,020.00
$ 32,100.00
$ 4,500.00
16
34,020.00
17
32,100.00
32,100.00
5s0 Misc exp
4,500.00
18
4,500.00
19
20
21
Net profit
$594,800.00
22
$3,366,540.00 $3,366,540.00 S76,000.00 $76,000.00 $3,424,540.00 $3,424,540.00 $747,520.00 $1.342,320.00 $2.127,020.00 $2,127,020.00
Transcribed Image Text:A. G H K. L Unadjusted trial balance Dr Adjusted T/B cr 1 Acc no Account names Adjustments Balance sheet Cr $1430,000.00 Income statement Cr Dr Dr Dr Cr Dr 100 Cash 110 Accounts rec 120 Supplies inventory $ 33,000.00 130 Equipment 135 Acc dep 200 Accounts pay 210 salaries payable 300N capital 310N drawings 400 service revenue $1,430,000.00 $ 432,020.00 3 $1,430,000.00 $ 432,020.00 $ 432,020.00 $18,000.00 | $ 15,000.00 $ 250,000.00 4 15,000.00 6 $ 250,000.00 $ 250,000.00 $ 48,000.00 $ 232,400.00 $48,000.00 48,000.00 $ 232,400.00 $ 232,400.00 $10,000.00 10,000.00 10,000.00 10 $1,791,820.00 $1,791,820.00 $1,836,620.00 11 $ 550,000.00 $ 550,000.00 12 $1,342,320.00 $1,342,320.00 $1,342,320.00 500 salaries exp 510 dep exp 520 supplies exp 530 transportation exp$ 34,020.00 540 insurance exp 13 $ 480,500.00 $10,000.00 $ 490,500.00 $490,500.00 $ 48,000.00 $138,400.00 14 $48,000.00 48,000.00 15 $ 120,400.00 $18,000.00 $ 138,400.00 $ 34,020.00 $ 32,100.00 $ 4,500.00 16 34,020.00 17 32,100.00 32,100.00 5s0 Misc exp 4,500.00 18 4,500.00 19 20 21 Net profit $594,800.00 22 $3,366,540.00 $3,366,540.00 S76,000.00 $76,000.00 $3,424,540.00 $3,424,540.00 $747,520.00 $1.342,320.00 $2.127,020.00 $2,127,020.00
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