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E.Pace Consulting Work Sheet For the Year Ended December 31. 2021               Unadjusted Trial Balance      &nbsp

E.Pace Consulting
Work Sheet
For the Year Ended December 31. 2021
              Unadjusted Trial Balance            Adjustments    Adjusted Trial Balance
Account Titles                        Dr. Cr. Dr. Cr. Dr. Cr.
Cash 8,000
10,000
Supplies 6,000
Equipment 14,000
Accum. Depr-Eqpt. 4,000
Accounts Payable 5,000
Unearned Revenues 5,000
Salaries Payable
Common Stock 3,000
Retained Earnings 15,500
Dividends 1,500
Revenue Earned 20,000 <<
(include above)
Salaries Expense 9,000
Rent Expense 4,000
Supplies Expense
Depreciation Expense
Totals 52,500 52,500
Required:
a. Using the following information, complete the work sheet including totals for each column and extending each
account to the adjusted trial balance columns.
a) Salaries earned by employees that wwere unpaid and unrecorded at year end, $2,000.
b) A count of supplies costing $1,300 were still on hand at year end.
c) Depreciation expense for the year is $4,000.
d) Review of Unearned Revenue confirmed $3,000 had been earned.
e) Revenue of $6,000 had been earned but not yeat billed.

Solutions

Expert Solution

Unadjusted Trial Balance Adjustments    Adjusted Trial Balance
Account Titles Dr. Cr. Dr. Cr. Dr. Cr.
Cash $             8,000 $          8,000
Accounts Receivable $           10,000 $            6,000 $        16,000
Supplies $             6,000 $       4,700 $          1,300
Equipment $           14,000 $        14,000
Accum. Depr-Eqpt. $             4,000 $       4,000 $               8,000
Accounts Payable $             5,000 $               5,000
Unearned Revenues $             5,000 $            3,000 $               2,000
Salaries Payable $       2,000 $               2,000
Common Stock $             3,000 $               3,000
Retained Earnings $           15,500 $             15,500
Dividends $             1,500 $          1,500
Revenue Earned $           20,000 $       9,000 $             29,000
Salaries Expense $             9,000 $            2,000 $        11,000
Rent Expense $             4,000 $          4,000
Supplies Expense $            4,700 $          4,700
Depreciation Expense $            4,000 $          4,000
Totals $           52,500 $           52,500 $         19,700 $     19,700 $        64,500 $            64,500

ekkarill92 answered 2 years ago
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