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Work Sheet 4A2

The document is a work sheet for the Law Office of Pat Hamilton for the month of April 30, 1994. It shows adjustments made to various balance sheet and income statement accounts. The balance sheet accounts are adjusted for unexpired insurance, prepaid office rent, office supplies, accumulated depreciation on office equipment, notes payable, interest payable, salaries payable, and unearned retainer fees. The income statement accounts are adjusted for legal fees earned, salaries expense, and various other expenses. The net income for the period is $1,030.

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SohailAKram
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293 views

Work Sheet 4A2

The document is a work sheet for the Law Office of Pat Hamilton for the month of April 30, 1994. It shows adjustments made to various balance sheet and income statement accounts. The balance sheet accounts are adjusted for unexpired insurance, prepaid office rent, office supplies, accumulated depreciation on office equipment, notes payable, interest payable, salaries payable, and unearned retainer fees. The income statement accounts are adjusted for legal fees earned, salaries expense, and various other expenses. The net income for the period is $1,030.

Uploaded by

SohailAKram
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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LAW OFFICE OF PAT HAMILTON

WORK SHEET
FOR THE MONTH ENDED APRIL 30, 1994
Trail Balance Adjustments Adjusted Trail Balance Income Statement Balance Sheet
Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr
Balance Sheet Accounts:
Cash 10,060 10,060 - 10,060
Legal fees Receivable 2,780 2,780 - 2,780
Unexpired Insurance 3,000 500 2,500 - 2,500
Prepaid office rent 4,800 1,600 3,200 - 3,200
Office Supplies 1,460 660 800 - 800
Office Equipment 26,400 26,400 - 26,400
Accumulated depreciation: Office Equipment 220 - 220 220
Notes Payable 16,000 - 16,000 16,000
Interest Payable 200 - 200 200
Salaries Payable 970 - 970 970
Unearned retainer fees 15,020 4,700 - 10,320 10,320
Pat Hamilton, Capital 20,000 - 20,000 20,000
Pat Hamilton, Drawing 3,000 3,000 - 3,000
Income Statement Accounts: - -
1,580 4,700 -
Legal fees earned 9,060 9,060
2,780
Salaries expense 2,680 970 3,650 - 3,650
Miscellaneous Expense 1,200 1,200 - 1,200
Office rent Expense 1,600 1,600 - 1,600
Office Supplies Expense 660 660 - 660
depreciation Expense: Office Equipment 220 220 - 220
Interest Expense 200 200 - 200
Insurance Expense 500 500 - 500
Total 52,600 52,600 11,630 11,630 56,770 56,770 8,030 9,060 48,740 47,710
Net Income 1,030 1,030
9,060 9,060 48,740 48,740

Sohail Akram (EMBA) Page 1 of 1 Chapter 4 (4A-1 to 4A-2)

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