Beyond Sea Adjusted Trial Balance December 31, 2015 Debit Credit Cash 30,500 Short-term Investments 32,200 Accounts Receivable 244,500 Supplies 11,500 Prepaid Rent 4,000 Prepaid Insurance 2,700 Notes Receivable (due in 3 yrs.) 30,000 Office Equipment 32,000 Accumulated Depreciation 5,500 Delivery Equipment 45,000 Accumulated Depreciation 12,200 Office Building 475,000 Accumulated Depreciation 130,000 Trademarks 8,700 Accounts Payable 57,600 Notes Payable (due within 1year) 25,000 Notes Payable (due in 5years) 125,000 Deferred Revenue 10,300 Common Stock 20,000 Retained Earnings 57,500 Service Revenue 805,200 Salaries 180,400 Insurance Expense 13,000 Depreciation 22,000 Rent Expense 74,300 Supplies Expense 3,500 Utilities Expense 2,900 Fringe Benefit Expense 56,500 Gain on Sale of Investments 25,300 Interest Expense 4,900 $1,273,600 $1,273,600 ` REQUIRED: Prepare in good form, aclassified balance sheet at December 31, 2015. ( You will have to compute theRetained Earnings at December 31.\)
| Beyond Sea | |||||||
| Adjusted Trial Balance | |||||||
| December 31, 2015 | |||||||
| Debit | Credit | ||||||
| Cash | 30,500 | ||||||
| Short-term Investments | 32,200 | ||||||
| Accounts Receivable | 244,500 | ||||||
| Supplies | 11,500 | ||||||
| Prepaid Rent | 4,000 | ||||||
| Prepaid Insurance | 2,700 | ||||||
| Notes Receivable (due in 3 yrs.) | 30,000 | ||||||
| Office Equipment | 32,000 | ||||||
| Accumulated Depreciation | 5,500 | ||||||
| Delivery Equipment | 45,000 | ||||||
| Accumulated Depreciation | 12,200 | ||||||
| Office Building | 475,000 | ||||||
| Accumulated Depreciation | 130,000 | ||||||
| Trademarks | 8,700 | ||||||
| Accounts Payable | 57,600 | ||||||
| Notes Payable (due within 1year) | 25,000 | ||||||
| Notes Payable (due in 5years) | 125,000 | ||||||
| Deferred Revenue | 10,300 | ||||||
| Common Stock | 20,000 | ||||||
| Retained Earnings | 57,500 | ||||||
| Service Revenue | 805,200 | ||||||
| Salaries | 180,400 | ||||||
| Insurance Expense | 13,000 | ||||||
| Depreciation | 22,000 | ||||||
| Rent Expense | 74,300 | ||||||
| Supplies Expense | 3,500 | ||||||
| Utilities Expense | 2,900 | ||||||
| Fringe Benefit Expense | 56,500 | ||||||
| Gain on Sale of Investments | 25,300 | ||||||
| Interest Expense | 4,900 | ||||||
| $1,273,600 | $1,273,600 | ||||||
| ` | |||||||
| REQUIRED: | |||||||
| Prepare in good form, aclassified balance sheet at December 31, 2015. | |||||||
| ( You will have to compute theRetained Earnings at December 31.\) | |||||||
Related questions
On March 1, Sather Co. sold merchandise to Boone Co. on account, $31,800, terms 2/15, n/30. The cost of the merchandise sold is $19,000. The merchandise was paid for on March 14.
Journalize the entries for Sather Co. and Boone Co. for the sale, purchase, and payment of amount due. Refer to the appropriate companyâs Chart of Accounts for exact wording of account titles.
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On December 31 adjusting entries for the following transactions.1. Fees accrued but not billed, $6,300. 2. The Supplies accountbalance on December 31, $4,750; Supplies on hand, $960. 3. Wagesaccrued but not paid, $2,700. 4. Depreciation of office equipment,$1,650. 5. Rent expired during year, $10,800.
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General Journal
Prepare the December 31 adjusting entries for each transactions.Refer to the Chart of Accounts for exact wording of accounttitles.
PAGE 1
JOURNAL
| DATE | DESCRIPTION | POST.REF. | DEBIT | CREDIT | |
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10 | need help with a general journal |
Account Tracking form provided:
Account Title -> copy the name of the accounts from the listbelow
Account Major Classification -> Asset (A), Liability (L),Ownerâs Equity (OE), Revenue (R) or Expense (E) or Not Applicable(NA)
Contra account -> place a check mark in this column if theitem is a contra account
Account Sub Classification -> only to be used with Asset andLiability accounts; Current Asset (CA); Property, Plant &Equipment (PPE); Current Liability (CL), Long-term Liability (LTL)or Not Applicable (NA)
Normal Balance -> debit (DR), credit (CR) or Not Applicable(NA)
Financial Statement-> Income Statement (IS), Statement ofOwnerâs Equity (SOE), Balance Sheet (BS) or Not Applicable (NA)
Temporary or Permanent -> T for temporary (nominal) accountsand P for permanent (real) accounts
Accounts Payable |
Accounts Receivable |
Accumulated Depreciation |
Advertising Expense |
Buildings |
Cash |
Depreciation Expense |
Fees Earned |
Income Summary |
Insurance Expense |
Interest Payable (due in 1 month) |
Interest Receivable (due in 2 months) |
Joey Bee, Capital |
Joey Bee, Drawing |
Land |
Notes Payable (due in 3 years) |
Notes Receivable (due in 2 months) |
Office Equipment |
Prepaid Insurance |
Prepaid Rent |
Rent Expense |
Notes Payable (due in 2 months) |
Store Equipment |
Supplies |
Supplies Expense |
Taxes Payable (due in 4 months) |
Unearned Fees |
Unearned Rent |
Unearned Revenue |
Wages Payable |
