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    X201 Midterm Exam Worksheet 2021

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    Kharen Padlan
    This document shows a trial balance, adjustments, adjusted trial balance, income statement, and balance sheet for Miley Capital. The trial balance includes accounts for assets like cash, accounts receivable, prepaid insurance, and equipment. Liability accounts include accounts payable and notes payable. Equity includes capital and personal accounts. Adjustments are made for depreciation, bad debts, prepaid and accrued expenses. The adjusted trial balance balances to the income statement and balance sheet.

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    X201 Midterm Exam Worksheet 2021

    Uploaded by

    Kharen Padlan
    51 views1 page
    This document shows a trial balance, adjustments, adjusted trial balance, income statement, and balance sheet for Miley Capital. The trial balance includes accounts for assets like cash, accounts receivable, prepaid insurance, and equipment. Liability accounts include accounts payable and notes payable. Equity includes capital and personal accounts. Adjustments are made for depreciation, bad debts, prepaid and accrued expenses. The adjusted trial balance balances to the income statement and balance sheet.

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    X201 Midterm Exam Worksheet 2021.Xls

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    This document shows a trial balance, adjustments, adjusted trial balance, income statement, and balance sheet for Miley Capital. The trial balance includes accounts for assets like cash, accounts receivable, prepaid insurance, and equipment. Liability accounts include accounts payable and notes payable. Equity includes capital and personal accounts. Adjustments are made for depreciation, bad debts, prepaid and accrued expenses. The adjusted trial balance balances to the income statement and balance sheet.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    51 views1 page

    X201 Midterm Exam Worksheet 2021

    Uploaded by

    Kharen Padlan
    This document shows a trial balance, adjustments, adjusted trial balance, income statement, and balance sheet for Miley Capital. The trial balance includes accounts for assets like cash, accounts receivable, prepaid insurance, and equipment. Liability accounts include accounts payable and notes payable. Equity includes capital and personal accounts. Adjustments are made for depreciation, bad debts, prepaid and accrued expenses. The adjusted trial balance balances to the income statement and balance sheet.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 1

    ACCT. ACCOUNT TRIAL BALANCE ADJUSTMENTS ADJ.

    TRIAL BALANCE INCOME STATEMENT BALANCE SHEET


    NO. TITLE DR CR DR CR DR CR DR CR DR CR
    101 Cash 48,450.00 48,450.00
    102 Accounts Receivable 65,000.00 65,000.00
    102-A Allow. for Bad debts 1,500.00 450.00 1,950.00
    103 Prepaid Insurance 120,000.00 78,000.00 42,000.00
    104 Supplies 12,500.00 9,400.00 3,100.00
    120 Equipment 120,000.00 120,000.00
    120-A Accumulated Depreciation-Equipment 5,000.00 9,000.00 14,000.00
    121 Furniture & Fixtures 85,000.00 85,000.00
    121-A Accumulated Depreciation-Furniture 8,750.00 8,750.00 17,500.00
    201 Accounts Payable 137,600.00 137,600.00
    202 Notes Payable –12%, 60,000.00 60,000.00
    301 Miley, Capital 252,570.00 252,570.00
    302 Miley, Personal 5,000.00 5,000.00
    401 Service Fees Revenue 204,755.00 45,000.00 159,755.00
    501 Salaries Expense 75,000.00 75,000.00
    502 Utilities Expense 55,725.00 55,725.00
    503 Gasoline and oil 5,600.00 5,600.00
    504 Rent expense 77,000.00 7,000.00 84,000.00
    505 Interest expense 900.00 900.00 1,800.00
    TOTAL 670,175.00 670,175.00
    Depreciation Expense Furniture 8,750.00 8,750.00
    Unearned Service Fees Revenue 45,000.00 45,000.00
    Interest Payable 900.00 900.00
    Rent Payable 7,000.00 7,000.00
    Supplies Expense 9,400.00 9,400.00
    Insurance Expense 78,000.00 78,000.00
    Depreciation Expense Equipment 9,000.00 9,000.00
    Bad Debt Expense 450.00 450.00
    158,500.00 158,500.00 696,275.00 696,275.00 - - - -
    - -
    - - - -

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