Rogers Corporation Unadjusted Trial Balance December 31, 2019 Асcount Debit Credit Cash 3,100 15,900 4,200 9,500 625,000 $ Accounts Receivable Supplies Prepaid Rent Equipment Accumulated Depreciation Other Assets $ 104,000 60,900 Accounts Payable Unearned Service Revenue 9,400 11,200 50,000 279,500 37,000 598,000 Note Payable (due 2022) Common Stock Retained Earnings, 12/31/2018 Service Revenue Wages Expense Rent Expense Interest Expense 137,000 229,000 4,500 $1,089, 100 Totals $1,089,100 At year end, you have the following data for adjustments: a. An analysis indicates that prepaid rent on December 31 should be $2,300. b. A physical inventory shows that $650 of office supplies is on hand. c. Depreciation for 2019 is $35,250. d. An analysis indicates that unearned service revenue should be $3,120. e. Wages in the amount of $3,450 are owed but unpaid and unrecorded at year end. f. Six months' interest at 8% on the note was paid on September 30. Interest for the period from October 1 to December 31 is unpaid and unrecorded. g. Income taxes of $55,539 are owed but unrecorded and unpaid.
Rogers Corporation Unadjusted Trial Balance December 31, 2019 Асcount Debit Credit Cash 3,100 15,900 4,200 9,500 625,000 $ Accounts Receivable Supplies Prepaid Rent Equipment Accumulated Depreciation Other Assets $ 104,000 60,900 Accounts Payable Unearned Service Revenue 9,400 11,200 50,000 279,500 37,000 598,000 Note Payable (due 2022) Common Stock Retained Earnings, 12/31/2018 Service Revenue Wages Expense Rent Expense Interest Expense 137,000 229,000 4,500 $1,089, 100 Totals $1,089,100 At year end, you have the following data for adjustments: a. An analysis indicates that prepaid rent on December 31 should be $2,300. b. A physical inventory shows that $650 of office supplies is on hand. c. Depreciation for 2019 is $35,250. d. An analysis indicates that unearned service revenue should be $3,120. e. Wages in the amount of $3,450 are owed but unpaid and unrecorded at year end. f. Six months' interest at 8% on the note was paid on September 30. Interest for the period from October 1 to December 31 is unpaid and unrecorded. g. Income taxes of $55,539 are owed but unrecorded and unpaid.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 5MCQ: Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense at...
Related questions
Question
You have the following unadjusted 1. Prepare the 2. Prepare an income statement, a 3. CONCEPTUAL CONNECTION Why would you not want to prepare financial statements until after the adjusting entries are made? |
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 4 steps
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
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning