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Core Constructions Company Trial Balance for the Month Ending December 31, 2019 Account Title Debit Credit...

Core Constructions Company
Trial Balance
for the Month Ending December 31, 2019
Account Title Debit Credit
100-Cash 600
101-Accounts Receivable 300
102-Supplies 12,500
103-Prepaid Rent 24,000
150-Computer (Cost) 125,000
151-Accumulated Depreciation 1,500
200-Accounts Payable 200
201-Unearned Revenue 60,000
202-Salaries & Wages Payable 0
300-Owner's Capital 35,600
301-Owner's Drawings 5,500
400-Sales Revenue 200,000
500-Telephone Expense 3,600
601-Salaries & Wages Expense 125,800
650-Supplies Expense 0
750-Depreciation Expense 0
790-Rent Expense 0
297,300 297,300
Adjustments:
1. The Supplies balance on December 31st is $5,500.
2. The Prepaid Rent is for 24-months
3. December depreciation expense is $500.
4. $40,000 of Unerned Revenue was used up in December.
5. Receipts for services completed in December for $15,000 was
    collected on January 4, 2020.
6. The December 2019 telephone bill for $300 was received and
     paid on January 5, 2020.
7. The weekly salary for $6,000 will be paid on Friday, January 2nd.
Please write in the Diagonal Box the balances for the following:
a. Salaries & Wages Payable
b. Net Profit

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Expert Solution

ekkarill92 answered 2 years ago
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