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The balances of the ledger account of buffet on sep 30th , 2019 are Cash 13000...

The balances of the ledger account of buffet on sep 30th , 2019 are

Cash 13000

Accounts recivable 7000

Supplies 2400

Prepaid insurance 6000

Equipment 15000

Acc payable 6800

Jane capital 6800

Jane drawing 35000

Fees income 3000

Adverise expense 19000

Rent exp 12000

Salaries exp 2400

Supplies exp 1000

Depreciation 800

Supplies purchased on sep 1,2019

Inventory of supplies showed 1200 on sep 30,2019

Prepaid insurance policy on sep 1,2019 paid for six months insurance policy

Equipments purchased sep 1,2019 estimated for 5 years use

Prepared the trial balance section, record adjustments and complete worksheet

Solutions

Expert Solution

Trial balance section, adjustments, and complete worksheet is as prepared below:

Buffet
Worksheet
For the Year ended Sept 30, 2019
Unadjusted Trial Balance Adjustments Adjusted Trial Balance
Account Title Dr. Cr. Dr. Cr. Dr. Cr.
Cash 13,000 13,000
Account Receivable 7,000 7,000
Supplies   2,400 a. 1,200 1,200
Prepaid Insurance 6,000 b. 1,000 5,000
Equipment 15,000 15,000
Accumulated dep c. 250 250
Accounts Payable 6,800 6,800
Jane Capital 6,800 6,800
Jane Drawing 35,000 35,000
Fees Income 3,000 3,000
Advertising expense 19,000 19,000
Rent expense 12,000 12,000
Salaries expense 2,400 2,400
Supplies Expense 1,000 a. 1,200 2,200
Depreciation    800 c. 250 1,050
Insurance Expense b.1,000 1,000
Totals 113,600 16,600 2,450 2,450 112,850 16,850

ekkarill92 answered 2 years ago
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