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Solved 4.4b Financial Accounting

FA-1

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Rehan Zafar 3836
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20 views1 page

Solved 4.4b Financial Accounting

FA-1

Uploaded by

Rehan Zafar 3836
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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EXERCISE UN-ADJUSTED TRAIL ADJUSTMENTS ADJUSTED TRAIL INCOME STATEMENT BALANCE SHEET

4.4 B BALANCE BALANCE

Account DR ($) CR ($) DR ($) CR ($) DR ($) CR ($) DR ($) CR ($) DR ($) CR ($)
Cash $ 8,200 $ 8,200 $ 8,200

Concession Revenue
Recievable $ 4,600 $ 4,600 $ 4,600

Prepaid Costume $ 1,800 $ 600 $ 1,200 $ 1,200


Rental
Land $ 80,000 $ 80,000 $ 80,000
Building $ 150,000 $ 150,000 $ 150,000

Accumulated
Depreciation: Building $ 18,500 $ 500 $ 19,000 $ (19,000)

Fixtures and
Equipment $ 18,000 $ 18,000 $ 18,000

Accumulated
Depreciation: Fixtures $ 4,500 $ 300 $ 4,800 $ (4,800)
and Equipment

Notes Payable $ 100,000 $ 100,000 $ 100,000


Accounts Payable $ 5,700 $ 5,700 $ 5,700
Unearned Admissions
$ 1,500 $ 500 $ 1,000 $ 1,000
Revenue
Interest Payable $ 1,062 $ 1,062 $ 1,062
Salaries Payable $ 2,200 $ 2,200 $ 2,200
Income Taxes Payable $ 4,700 $ 3,600 $ 8,300 $ 8,300
Capital Stock $ 9,000 $ 9,000 $ 9,000
Retained Earnings $ 26,400 $ 26,400 $ 26,400
Dividends $ 9,000 $ 9,000 $ (9,000)
Admissions Revenue $ 180,200 $ 500 $ 180,700 $ 180,700

Concessions Revenue $ 19,600 $ 4,600 $ 24,200 $ 24,200

Salaries Expense $ 57,400 $ 2,200 $ 59,600 $ 59,600


Costume Rental
$ 2,700 $ 600 $ 3,300 $ 3,300
Expense
Utilities Expense $ 7,100 $ 7,100 $ 7,100
Depreciation Expense:
Building $ 4,000 $ 500 $ 4,500 $ 4,500
Depreciation Expense: $ 2,400 $ 300 $ 2,700 $ 2,700
Fixtures & Equipment
Interest Expense $ 8,500 $ 1,062 $ 9,562 $ 9,562
Income Taxes Expense $ 21,000 $ 3,600 $ 24,600 $ 24,600
Retained Earnings $ 144,662
TOTAL: $ 370,100 $ 370,100 $ 13,362 $ 13,362 $ 382,362 $ 382,362 $ 111,362 $ 204,900 $ 238,200 $ 238,200
EQUAL OK EQUAL OK EQUAL OK Net Income: $ 93,538 EQUAL OK

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