The trial balance and information for year-end adjustments for Vilardi Company are as follows: Vilardi Company Trial Balance December 31, 20-- Account Title Debit Credit Cash 15,700 Accounts Receivable 9,400 Supplies 6,000 Prepaid Insurance 1,500 Equipment 50,000 Accumulated Depreciation-Equipment 10,000 Accounts Payable 5,400 Wages Payable Vilardi, Capital 29,460 Vilardi, Drawing 1,500 Service Fees 63,000 Wages Expense 15,100 Rent Expense 7,800 Supplies Expense Utilities Expense 860 Insurance Expense Depreciation Expense-Equipment 107,860 107,860 a. Supplies on hand at year-end amounted to $420. b. The equipment costing $50,000 has an expected life of five years and no salvage value. Vilardi uses straight-line depreciation. c. A premium of $1,500 for a one-year insurance policy was paid on November 1. d. Wages earned by employees but not paid by year-end amounted to $900. Prepare the necessary year-end adjustments on a 10-column work sheet, and complete the work sheet. If an amount box does not require an entry, leave it blank. Vilardi Company Work Sheet For Month Ended December 31, 20-- Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 15,700 fill in the blank 1 fill in the blank 2 fill in the blank 3 fill in the blank 4 fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8 Accounts Receivable 9,400 fill in the blank 9 fill in the blank 10 fill in the blank 11 fill in the blank 12 fill in the blank 13 fill in the blank 14 fill in the blank 15 fill in the blank 16 Supplies 6,000 fill in the blank 17 fill in the blank 18 fill in the blank 19 fill in the blank 20 fill in the blank 21 fill in the blank 22 fill in the blank 23 fill in the blank 24 Prepaid Insurance 1,500 fill in the blank 25 fill in the blank 26 fill in the blank 27 fill in the blank 28 fill in the blank 29 fill in the blank 30 fill in the blank 31 fill in the blank 32 Equipment 50,000 fill in the blank 33 fill in the blank 34 fill in the blank 35 fill in the blank 36 fill in the blank 37 fill in the blank 38 fill in the blank 39 fill in the blank 40 Accumulated Depreciation-Equipment 10,000 fill in the blank 41 fill in the blank 42 fill in the blank 43 fill in the blank 44 fill in the blank 45 fill in the blank 46 fill in the blank 47 fill in the blank 48 Accounts Payable 5,400 fill in the blank 49 fill in the blank 50 fill in the blank 51 fill in the blank 52 fill in the blank 53 fill in the blank 54 fill in the blank 55 fill in the blank 56 Wages Payable fill in the blank 57 fill in the blank 58 fill in the blank 59 fill in the blank 60 fill in the blank 61 fill in the blank 62 fill in the blank 63 fill in the blank 64 Vilardi, Capital 29,460 fill in the blank 65 fill in the blank 66 fill in the blank 67 fill in the blank 68 fill in the blank 69 fill in the blank 70 fill in the blank 71 fill in the blank 72 Vilardi, Drawing 1,500 fill in the blank 73 fill in the blank 74 fill in the blank 75 fill in the blank 76 fill in the blank 77 fill in the blank 78 fill in the blank 79 fill in the blank 80 Service Fees 63,000 fill in the blank 81 fill in the blank 82 fill in the blank 83 fill in the blank 84 fill in the blank 85 fill in the blank 86 fill in the blank 87 fill in the blank 88 Wages Expense 15,100 fill in the blank 89 fill in the blank 90 fill in the blank 91 fill in the blank 92 fill in the blank 93 fill in the blank 94 fill in the blank 95 fill in the blank 96 Rent Expense 7,800 fill in the blank 97 fill in the blank 98 fill in the blank 99 fill in the blank 100 fill in the blank 101 fill in the blank 102 fill in the blank 103 fill in the blank 104 Supplies Expense fill in the blank 105 fill in the blank 106 fill in the blank 107 fill in the blank 108 fill in the blank 109 fill in the blank 110 fill in the blank 111 fill in the blank 112 Utilities Expense 860 fill in the blank 113 fill in the blank 114 fill in the blank 115 fill in the blank 116 fill in the blank 117 fill in the blank 118 fill in the blank 119 fill in the blank 120 Insurance Expense fill in the blank 121 fill in the blank 122 fill in the blank 123 fill in the blank 124 fill in the blank 125 fill in the blank 126 fill in the blank 127 fill in the blank 128 Depreciation Expense-Equipment fill in the blank 129 fill in the blank 130 fill in the blank 131 fill in the blank 132 fill in the blank 133 fill in the blank 134 fill in the blank 135 fill in the blank 136 107,860 107,860 fill in the blank 137 fill in the blank 138 fill in the blank 139 fill in the blank 140 fill in the blank 141 fill in the blank 142 fill in the blank 143 fill in the blank 144 Net Income fill in the blank 145 fill in the blank 146 fill in the blank 147 fill in the blank 148 fill in the blank 149 fill in the blank 150 fill in the blank 151 fill in the blank 152

The trial balance and information for year-end adjustments for Vilardi Company are as follows: Vilardi Company Trial Balance December 31, 20-- Account Title Debit Credit Cash 15,700 Accounts Receivable 9,400 Supplies 6,000 Prepaid Insurance 1,500 Equipment 50,000 Accumulated Depreciation-Equipment 10,000 Accounts Payable 5,400 Wages Payable Vilardi, Capital 29,460 Vilardi, Drawing 1,500 Service Fees 63,000 Wages Expense 15,100 Rent Expense 7,800 Supplies Expense Utilities Expense 860 Insurance Expense Depreciation Expense-Equipment 107,860 107,860 a. Supplies on hand at year-end amounted to $420. b. The equipment costing $50,000 has an expected life of five years and no salvage value. Vilardi uses straight-line depreciation. c. A premium of $1,500 for a one-year insurance policy was paid on November 1. d. Wages earned by employees but not paid by year-end amounted to $900. Prepare the necessary year-end adjustments on a 10-column work sheet, and complete the work sheet. If an amount box does not require an entry, leave it blank. Vilardi Company Work Sheet For Month Ended December 31, 20-- Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 15,700 fill in the blank 1 fill in the blank 2 fill in the blank 3 fill in the blank 4 fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8 Accounts Receivable 9,400 fill in the blank 9 fill in the blank 10 fill in the blank 11 fill in the blank 12 fill in the blank 13 fill in the blank 14 fill in the blank 15 fill in the blank 16 Supplies 6,000 fill in the blank 17 fill in the blank 18 fill in the blank 19 fill in the blank 20 fill in the blank 21 fill in the blank 22 fill in the blank 23 fill in the blank 24 Prepaid Insurance 1,500 fill in the blank 25 fill in the blank 26 fill in the blank 27 fill in the blank 28 fill in the blank 29 fill in the blank 30 fill in the blank 31 fill in the blank 32 Equipment 50,000 fill in the blank 33 fill in the blank 34 fill in the blank 35 fill in the blank 36 fill in the blank 37 fill in the blank 38 fill in the blank 39 fill in the blank 40 Accumulated Depreciation-Equipment 10,000 fill in the blank 41 fill in the blank 42 fill in the blank 43 fill in the blank 44 fill in the blank 45 fill in the blank 46 fill in the blank 47 fill in the blank 48 Accounts Payable 5,400 fill in the blank 49 fill in the blank 50 fill in the blank 51 fill in the blank 52 fill in the blank 53 fill in the blank 54 fill in the blank 55 fill in the blank 56 Wages Payable fill in the blank 57 fill in the blank 58 fill in the blank 59 fill in the blank 60 fill in the blank 61 fill in the blank 62 fill in the blank 63 fill in the blank 64 Vilardi, Capital 29,460 fill in the blank 65 fill in the blank 66 fill in the blank 67 fill in the blank 68 fill in the blank 69 fill in the blank 70 fill in the blank 71 fill in the blank 72 Vilardi, Drawing 1,500 fill in the blank 73 fill in the blank 74 fill in the blank 75 fill in the blank 76 fill in the blank 77 fill in the blank 78 fill in the blank 79 fill in the blank 80 Service Fees 63,000 fill in the blank 81 fill in the blank 82 fill in the blank 83 fill in the blank 84 fill in the blank 85 fill in the blank 86 fill in the blank 87 fill in the blank 88 Wages Expense 15,100 fill in the blank 89 fill in the blank 90 fill in the blank 91 fill in the blank 92 fill in the blank 93 fill in the blank 94 fill in the blank 95 fill in the blank 96 Rent Expense 7,800 fill in the blank 97 fill in the blank 98 fill in the blank 99 fill in the blank 100 fill in the blank 101 fill in the blank 102 fill in the blank 103 fill in the blank 104 Supplies Expense fill in the blank 105 fill in the blank 106 fill in the blank 107 fill in the blank 108 fill in the blank 109 fill in the blank 110 fill in the blank 111 fill in the blank 112 Utilities Expense 860 fill in the blank 113 fill in the blank 114 fill in the blank 115 fill in the blank 116 fill in the blank 117 fill in the blank 118 fill in the blank 119 fill in the blank 120 Insurance Expense fill in the blank 121 fill in the blank 122 fill in the blank 123 fill in the blank 124 fill in the blank 125 fill in the blank 126 fill in the blank 127 fill in the blank 128 Depreciation Expense-Equipment fill in the blank 129 fill in the blank 130 fill in the blank 131 fill in the blank 132 fill in the blank 133 fill in the blank 134 fill in the blank 135 fill in the blank 136 107,860 107,860 fill in the blank 137 fill in the blank 138 fill in the blank 139 fill in the blank 140 fill in the blank 141 fill in the blank 142 fill in the blank 143 fill in the blank 144 Net Income fill in the blank 145 fill in the blank 146 fill in the blank 147 fill in the blank 148 fill in the blank 149 fill in the blank 150 fill in the blank 151 fill in the blank 152

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter22: End-of-fiscal-period Work For A Corporation

Section: Chapter Questions

Problem 1AP

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The trial balance and information for year-end adjustments for Vilardi Company are as follows:

Vilardi Company Trial Balance December 31, 20--
Account Title	Debit	Credit
Cash	15,700
Accounts Receivable	9,400
Supplies	6,000
Prepaid Insurance	1,500
Equipment	50,000
Accumulated Depreciation-Equipment		10,000
Accounts Payable		5,400
Wages Payable
Vilardi, Capital		29,460
Vilardi, Drawing	1,500
Service Fees		63,000
Wages Expense	15,100
Rent Expense	7,800
Supplies Expense
Utilities Expense	860
Insurance Expense
Depreciation Expense-Equipment
	107,860	107,860

a.	Supplies on hand at year-end amounted to $420.
b.	The equipment costing $50,000 has an expected life of five years and no salvage value. Vilardi uses straight-line depreciation.
c.	A premium of $1,500 for a one-year insurance policy was paid on November 1.
d.	Wages earned by employees but not paid by year-end amounted to $900.

Prepare the necessary year-end adjustments on a 10-column work sheet, and complete the work sheet. If an amount box does not require an entry, leave it blank.

Vilardi Company Work Sheet For Month Ended December 31, 20--
	Trial Balance	Adjustments	Adjusted Trial Balance	Income Statement	Balance Sheet
Account Title	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit
Cash	15,700		fill in the blank 1	fill in the blank 2	fill in the blank 3	fill in the blank 4	fill in the blank 5	fill in the blank 6	fill in the blank 7	fill in the blank 8
Accounts Receivable	9,400		fill in the blank 9	fill in the blank 10	fill in the blank 11	fill in the blank 12	fill in the blank 13	fill in the blank 14	fill in the blank 15	fill in the blank 16
Supplies	6,000		fill in the blank 17	fill in the blank 18	fill in the blank 19	fill in the blank 20	fill in the blank 21	fill in the blank 22	fill in the blank 23	fill in the blank 24
Prepaid Insurance	1,500		fill in the blank 25	fill in the blank 26	fill in the blank 27	fill in the blank 28	fill in the blank 29	fill in the blank 30	fill in the blank 31	fill in the blank 32
Equipment	50,000		fill in the blank 33	fill in the blank 34	fill in the blank 35	fill in the blank 36	fill in the blank 37	fill in the blank 38	fill in the blank 39	fill in the blank 40
Accumulated Depreciation-Equipment		10,000	fill in the blank 41	fill in the blank 42	fill in the blank 43	fill in the blank 44	fill in the blank 45	fill in the blank 46	fill in the blank 47	fill in the blank 48
Accounts Payable		5,400	fill in the blank 49	fill in the blank 50	fill in the blank 51	fill in the blank 52	fill in the blank 53	fill in the blank 54	fill in the blank 55	fill in the blank 56
Wages Payable			fill in the blank 57	fill in the blank 58	fill in the blank 59	fill in the blank 60	fill in the blank 61	fill in the blank 62	fill in the blank 63	fill in the blank 64
Vilardi, Capital		29,460	fill in the blank 65	fill in the blank 66	fill in the blank 67	fill in the blank 68	fill in the blank 69	fill in the blank 70	fill in the blank 71	fill in the blank 72
Vilardi, Drawing	1,500		fill in the blank 73	fill in the blank 74	fill in the blank 75	fill in the blank 76	fill in the blank 77	fill in the blank 78	fill in the blank 79	fill in the blank 80
Service Fees		63,000	fill in the blank 81	fill in the blank 82	fill in the blank 83	fill in the blank 84	fill in the blank 85	fill in the blank 86	fill in the blank 87	fill in the blank 88
Wages Expense	15,100		fill in the blank 89	fill in the blank 90	fill in the blank 91	fill in the blank 92	fill in the blank 93	fill in the blank 94	fill in the blank 95	fill in the blank 96
Rent Expense	7,800		fill in the blank 97	fill in the blank 98	fill in the blank 99	fill in the blank 100	fill in the blank 101	fill in the blank 102	fill in the blank 103	fill in the blank 104
Supplies Expense			fill in the blank 105	fill in the blank 106	fill in the blank 107	fill in the blank 108	fill in the blank 109	fill in the blank 110	fill in the blank 111	fill in the blank 112
Utilities Expense	860		fill in the blank 113	fill in the blank 114	fill in the blank 115	fill in the blank 116	fill in the blank 117	fill in the blank 118	fill in the blank 119	fill in the blank 120
Insurance Expense			fill in the blank 121	fill in the blank 122	fill in the blank 123	fill in the blank 124	fill in the blank 125	fill in the blank 126	fill in the blank 127	fill in the blank 128
Depreciation Expense-Equipment			fill in the blank 129	fill in the blank 130	fill in the blank 131	fill in the blank 132	fill in the blank 133	fill in the blank 134	fill in the blank 135	fill in the blank 136
	107,860	107,860	fill in the blank 137	fill in the blank 138	fill in the blank 139	fill in the blank 140	fill in the blank 141	fill in the blank 142	fill in the blank 143	fill in the blank 144
Net Income							fill in the blank 145	fill in the blank 146	fill in the blank 147	fill in the blank 148
							fill in the blank 149	fill in the blank 150	fill in the blank 151	fill in the blank 152

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