Use the information below to prepare the Balance Sheet as of December 31. ...
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Accounting
Use the information below to prepare the Balance Sheet as of December 31.
Glow Styling | ||
Adjusted Trial Balance | ||
December 31 |
| |
Account Title | Debit | Credit |
Cash | $4,200.00 | |
Rent Receivable | $200.00 | |
Prepaid Insurance($1480-$1240) | $240.00 | |
Shop Supplies(Given) | $210.00 | |
Shop Equipment | $3,860.00 | |
Building | $57,500.00 | |
Land | $55,000.00 | |
Accumulated Depreciation-Shop Equipment($770+$350) | $1,120.00 | |
Accumulated Depreciation-Building($3840+$2220) | $6,060.00 | |
Wages Payable($50*4) | $200.00 | |
Property Taxes Payable(given) | $450.00 | |
Interest Payable(given) | $600.00 | |
Unearned Rent($1600-$800) | $800.00 | |
Long Term Note Payable | $50,000.00 | |
G.Capital | $49,860.00 | |
Rent Earned($2400+$200+$800) | $3,400.00 | |
Fees Earned | $23,400.00 | |
Wages Expense($3200+$200) | $3,400.00 | |
Utilities Expense | $690.00 | |
Property Taxes Expense($600+$450) | $1,050.00 | |
Insurance Expense | $1,240.00 | |
Shop Supplies Expense($990-$210) | $780.00 | |
Depreciation Expense-Shop Equipment(Given) | $350.00 | |
Depreciation Expense-Building(Given) | $2,220.00 | |
Interest Expense($4350+$600) | $4,950.00 | |
Total | $ 1,35,890.00 | $ 1,35,890.00 |
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