BOMBAS prise Unadjusted Trial Balance 31 December 2020 Debit RM Credit RM 22,320 22,440 Cash Accounts Receivable 4,140 Supplies Prepaid Insurance Cleaning Equipment Accumulated Depreciation – Cleaning Equipment Notes payable Accounts Payable 9,000 19,950 7,830 15,000 2,940 Unearned Service Revenue 5,625 27,592 75,563 Owner's Capital Service Revenue Salaries and Wages Expense 56,700 134,550 TOTALS 134,550 The information below has been gathered at 31 December 2020: 1. BOMBASTIC performed services amounted RM1,725 for a client in December 2020. The client will be billed at the end of the month. 2. On 1 July 2020, BOMBASTIC borrowed RM15,000 by signing a 6%, one-year note. 3. BOMBASTIC paid RM9,000 for 12-months of insurance coverage on 1 September 2020. 4. Depreciation on the cleaning equipment for 2020 is RM2,610. 5. Salaries and wages accrued as at 31 December 2020 is RM6,750 and unearned service revenue amounted RM3,900. 6. A count of supplies on 31 December 2020 indicates that supplies of RM1,328 are on hand.

BOMBAS prise Unadjusted Trial Balance 31 December 2020 Debit RM Credit RM 22,320 22,440 Cash Accounts Receivable 4,140 Supplies Prepaid Insurance Cleaning Equipment Accumulated Depreciation – Cleaning Equipment Notes payable Accounts Payable 9,000 19,950 7,830 15,000 2,940 Unearned Service Revenue 5,625 27,592 75,563 Owner's Capital Service Revenue Salaries and Wages Expense 56,700 134,550 TOTALS 134,550 The information below has been gathered at 31 December 2020: 1. BOMBASTIC performed services amounted RM1,725 for a client in December 2020. The client will be billed at the end of the month. 2. On 1 July 2020, BOMBASTIC borrowed RM15,000 by signing a 6%, one-year note. 3. BOMBASTIC paid RM9,000 for 12-months of insurance coverage on 1 September 2020. 4. Depreciation on the cleaning equipment for 2020 is RM2,610. 5. Salaries and wages accrued as at 31 December 2020 is RM6,750 and unearned service revenue amounted RM3,900. 6. A count of supplies on 31 December 2020 indicates that supplies of RM1,328 are on hand.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter8: Inventories: Special Valuation Issues

Section: Chapter Questions

Problem 18E: Errors During the course of your examination of the financial statements of Burnett Co., a new...

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