Rainmaker Environmental Consultants Is Just finishing Its second year of operations. The company's unadjusted trial balance at October 31, 2020, follows: RAINMAKER ENVIRONMENTAL CONSULTANTS Unad justed Trlal Balance October 31, 2020 Account Acct. No. Debit $ 26,000 61,000 Credit 101 Cash 106 Accounts receivable 109 111 Interest receivable 5e, e00 5,300 3,400 27,e00 84,e00 Notes receivable 126 Supplies Prepaid insurance Prepaid rent Office furniture 128 131 161 162 201 210 233 301 302 401 $ 28,e00 18, e0e Accumulated depreciation, oftice furniture Accounts payable Wages payable Unearned consulting revenue Jeff Moore, capital Jeff Moore, withdrawals 26, 000 223,000 28,eee Consulting revenue Interest incone 232, e20 480 409 601 622 637 Depreciation expense, office furniture Wages expense Insurance expense 192,ee0 640 Rent expense Supplies expense 44,000 650 6,800 $ 527,500 Totals $ 527, 500 Rainmaker prepares adjustments each October 31. The following additional Information is avallable on October 31, 2020. a. It was determined that $12,000 of the unearned consulting revenue had not yet been earned. b. It was discovered that $14,000 of the balance In the Consulting Revenue account was for services to be performed in November. c. The balance in the Prepald Rent account represents three months of rent beginning September 1, 2020. d. Accrued wages at October 31 totalled $6.800. e. The office furniture was purchased on March 1, 2019, and has an estimated useful life of two years. After two years of use, It is expected that the furniture will be worthless. f. Accrued consulting revenue at year-end totalled $4,200. g. Interest of $85 had accrued on the note recelvable for the month of October. h. The balance In the Prepald Insurance account represents the remaining balance of a two-year policy purchased on April 1, 2019. L.A count of the supples on October 31 revealed a balance remalning of $620.
Rainmaker Environmental Consultants Is Just finishing Its second year of operations. The company's unadjusted trial balance at October 31, 2020, follows: RAINMAKER ENVIRONMENTAL CONSULTANTS Unad justed Trlal Balance October 31, 2020 Account Acct. No. Debit $ 26,000 61,000 Credit 101 Cash 106 Accounts receivable 109 111 Interest receivable 5e, e00 5,300 3,400 27,e00 84,e00 Notes receivable 126 Supplies Prepaid insurance Prepaid rent Office furniture 128 131 161 162 201 210 233 301 302 401 $ 28,e00 18, e0e Accumulated depreciation, oftice furniture Accounts payable Wages payable Unearned consulting revenue Jeff Moore, capital Jeff Moore, withdrawals 26, 000 223,000 28,eee Consulting revenue Interest incone 232, e20 480 409 601 622 637 Depreciation expense, office furniture Wages expense Insurance expense 192,ee0 640 Rent expense Supplies expense 44,000 650 6,800 $ 527,500 Totals $ 527, 500 Rainmaker prepares adjustments each October 31. The following additional Information is avallable on October 31, 2020. a. It was determined that $12,000 of the unearned consulting revenue had not yet been earned. b. It was discovered that $14,000 of the balance In the Consulting Revenue account was for services to be performed in November. c. The balance in the Prepald Rent account represents three months of rent beginning September 1, 2020. d. Accrued wages at October 31 totalled $6.800. e. The office furniture was purchased on March 1, 2019, and has an estimated useful life of two years. After two years of use, It is expected that the furniture will be worthless. f. Accrued consulting revenue at year-end totalled $4,200. g. Interest of $85 had accrued on the note recelvable for the month of October. h. The balance In the Prepald Insurance account represents the remaining balance of a two-year policy purchased on April 1, 2019. L.A count of the supples on October 31 revealed a balance remalning of $620.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
ChapterB: Bad Debts
Section: Chapter Questions
Problem 2P: Hardys Landscape Services total revenue on account for 2018 amounted to 273,205. The company, which...
Related questions
Question
Only the question on 6d photo thanks
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College