Question

Problem 15-2: Prepare a complete Worksheet.

Edward Mantis is the owner of his own appliance repair service. On October 31, XXX1, the balances of Mr. Mantis' ledger accounts are:

ACCOUNT TITLES	DEBIT	CREDIT
Cash	5,320
Accounts Receivable—Marilyn Anker	700
Supplies	345
Prepaid Insurance	600
Equipment	4,200
Accumulated Depreciation--Equipment		630
Account Payable—Francis Lloyd		1,000
Note Payable—John Miller		1,500
Edward Mantis, Capital		6,200
Edward Mantis, Drawing	550
Income from Services		3,750
Salary Expense	800
Rent Expense	350
Miscellaneous Expense	215

1. Supplies used during October amounted to $115.
2. Insurance expired during October amounted to $100.
3. Depreciation on equipment for the month amounted to $70.
4. The interest expense on the note payable to John Miller was $9.
5. The accrued salaries payable on October 31, XXX1, was $40.

Prepare a Worksheet for Edward Mantis for the Appliance Repair Service.

Edward Mantis, Appliance Repair Service Worksheet For the Month Ended June 30, XXX1
Acct. No.	Accounts	Trial Balance		Adjustments		Adjusted Trial Balance		Income Statement		Balance Sheet
		Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit
111
112
114
115
121
122
211
221
311
312

Answer 1