The Gorman Group End-of-Period Spreadsheet For the Year Ended October 31, 2019 Adjusted Trial Balance Account Title Dr. Cr. Cash 13,020 Accounts Receivable 28,350 Supplies 4,430 Prepaid Insurance 9,570 Land 101,000 Buildings 362,000 Accumulated Depreciation-Buildings 118,000 Equipment 262,000 Accumulated Depreciation-Equipment 153,700 Accounts Payable 33,540 Salaries Payable 3,320 Unearned Rent 1,510 Nicole Gorman, Capital 430,560 Nicole Gorman, Drawing 25,200 Service Fees 478,220 Rent Revenue 5,050 Salaries Expense 342,840 Depreciation Expense-Equipment 18,600 Rent Expense 15,600 Supplies Expense 11,030 Utilities Expense 9,970 Depreciation Expense-Buildings 6,650 Repairs Expense 5,490 Insurance Expense 3,010 Miscellaneous Expense 5,140 1,223,900 1,223,900
The Gorman Group End-of-Period Spreadsheet For the Year Ended October 31, 2019 Adjusted Trial Balance Account Title Dr. Cr. Cash 13,020 Accounts Receivable 28,350 Supplies 4,430 Prepaid Insurance 9,570 Land 101,000 Buildings 362,000 Accumulated Depreciation-Buildings 118,000 Equipment 262,000 Accumulated Depreciation-Equipment 153,700 Accounts Payable 33,540 Salaries Payable 3,320 Unearned Rent 1,510 Nicole Gorman, Capital 430,560 Nicole Gorman, Drawing 25,200 Service Fees 478,220 Rent Revenue 5,050 Salaries Expense 342,840 Depreciation Expense-Equipment 18,600 Rent Expense 15,600 Supplies Expense 11,030 Utilities Expense 9,970 Depreciation Expense-Buildings 6,650 Repairs Expense 5,490 Insurance Expense 3,010 Miscellaneous Expense 5,140 1,223,900 1,223,900
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
Topic Video
Question
Prepare a statement of owner's equity.
So I know that increase in owners equity is assets minus liabilities but I don't think im getting the right answer. I keep getting like 352,000
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 2 steps with 4 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
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning