Unadjusted account balances at December 31, 2013, for Rapisarda Company are as follows: ...
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Accounting
Unadjusted account balances at December 31, 2013, for Rapisarda Company are as follows:
| Particulars | Debit | Credit |
| Cash | 2,000 | |
| Accounts receivable | 33,000 | |
| Prepaid rent | 26,000 | |
| Equipment | 211,000 | |
| Accumulated depreciation (Equipment) | 75,000 | |
| Other assets | 24,000 | |
| Accounts payable | 12,000 | |
| Note payable (due to 10 years) | 40,000 | |
| Common stock | 100,000 | |
| Retained earnings, 12/31/2012 | 11,000 | |
| Service revenue | 243,000 | |
| Rent expense | 84,000 | |
| Wages expense | 97,000 | |
| Interest expense | 4,000 | |
| Totals | 481,000 | 481,000 |
The following data are not yet recorded:
a. Depreciation on the equipment is $18,350.
b. Unrecorded wages owed on December 31, 2013: $4,680.
c. Prepaid rent at December 31, 2013: $9,240.
d. Income tax expense: $5,463.
Required:
Prepare a completed worksheet for the Rapisarda Company.
Please do not copy from Chegg. I need an original answer with a proper explanation with step by step explanation.
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