Chapter 7.2, Problem 1OYO

A highly simplified alphabetical list of trial balance accounts and their normal balances for the month ended March 31, 2014, follows, as seen in attached image. 1.Prepare a work sheet, entering the trial balance accounts in the order in which they would normally appear and entering the balances in the correct debit or credit column. 2.Complete the work sheet using the following information: expired insurance, $1; estimated depreciation on office equipment, $1; accrued wages, $1; and unused supplies on hand, $1. In addition, $2 of the unearned revenues balance had been earned by the end of the month.

Which of the following would be recorded as an identifiable accounting transaction? Group of answer choices A. Providing services to customers on account. B. Hiring a new employee. C. Signing a contract to lease office space next year. D. Ordering a new vehicle, which will be received and paid for next month

The partial work sheet for Adams’ Shoe Shine is shown, prepare a statement of owner’s equity, assuming no additional investment was made by the owner.   Adams’ Shoe Shine Work Sheet (Partial) For Month Ended June 30, 20-- 1   INCOME STATEMENT INCOME STATEMENT BALANCE SHEET BALANCE SHEET 2 ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT 3 Cash     3,262.00   4 Accounts Receivable     1,244.00   5 Supplies     800.00   6 Prepaid Insurance     640.00   7 Office Equipment     2,100.00   8 Accumulated Depreciation-Office Equipment       110.00 9 Accounts Payable       1,850.00 10 Wages Payable       260.00 11 Mary Adams, Capital       6,000.00 12 Mary Adams, Drawing     2,000.00   13 Service Fees   4,813.00     14 Wages Expense 1,080.00       15 Advertising Expense 34.00…