Example of a 10-column worksheet PDF

Preview

Summary

Download Example of a 10-column worksheet PDF

Description

Example of a 10-column worksheet The ledger of P. Oodle, Veterinary Surgeon, contains the accounts and account balances shown below on 30 June 2016: Account Cash at Bank Accounts Receivable Prepaid Insurance Land Building Accumulated Depreciation – Building Equipment Accumulated Depreciation – Equipment Accounts Payable Mortgage Payable P. Oodle, Capital P. Oodle, Drawings Fees Earned Rent Revenue Salaries Expense Telephone Expense Interest Expense Insurance Expense

Debit $ 12 600 11 800 1 800 180 200 196 000

Credit

$86 900 32 300 8 800 16 400 64 000 236 950 86 500 262 430 14 400 124 600 4 520 3 080 36 480 $689 880

$689 880

The following account titles are included in the chart of accounts: Interest Payable Salaries Payable Rates Payable Unearned Fees Depreciation Expense – Building Depreciation Expense – Equipment Rates Expense The following information has not yet been recorded: 1. Rates owing at 30 June, $4820. 2. Depreciation on the equipment is $3680. Depreciation on the building is $9600. 3. An advance fee payment of $600 for minor surgery to be performed in July 2016 was credited to Fees Earned. 4. The mortgage contract provides for a monthly payment of $1000 plus accrued interest. The June payment was not made. Interest of $260 is accrued on the mortgage. 5. Prepaid insurance of $1340 has expired. 6. Salaries earned but not paid amount to $2360. Required A. Prepare a 10-column worksheet for the year ended 30 June 2016.

1 

A.

Account title

Unadjusted trial balance Debit Credit

Cash at Bank

12 600

Accounts Receivable

11 800

Prepaid Insurance

1 800

Land

180 200

Building

196 000

Acc. Depn – Building Equipment

Worksheet: for the year ended 30 June 2016 Adjustments Adjusted Trial balance Debit Credit Debit Credit

(5) 1 340

Credit

Debit

12 600

12 600

11 800

11 800

460

460

180 200

180 200

(2) 9 600

32 300 (2) 3 680

16 400

Credit

196 000 96 500

96 500

32 300 8 800

Accounts Payable

Debit

Balance sheet

196 000 86 900

Acc. Depr. – Equipment

Income statement

32 300 12 480

12 480

16 400

16 400

Mortgage Payable

64 000

64 000

64 000

P. Oodle, Capital

236 950

236 950

236 950

P. Oodle, Drawings

86 500

Fees Earned Rent Revenue Salaries Expense

86 500 262 430

(3)

600

14 400 124 600

Telephone Expense

4 520

Interest Expense

3 080

86 500 261 830

261 830

14 400 (6) 2 360

126 960

4 520

4 520

260

3 340

3 340

(5) 1 340

37 820

37 820

Depr. Exp – Building

(2) 9 600

9 600

9 600

Depr. Exp. – Equipment

(2) 3 680

3 680

Insurance Expense

(4)

14 400

126 960

36 480 $689 880

$689 880 3 680

Interest Payable

(4)

260

260

260

Salaries Payable

(6) 2 360

2 360

2 360

Rates Payable

(1) 4 820

4 820

4 820

Unearned Fees

(3)

Rates Expense

(1) 4 820 22 660

Profit for the year

600

600 4 820

22 660

710 600

600 4 820

710 600

190 740

276 230

519 860

434 370

276 230

519 860

519 860

85 490 276 230

85 490

2 ...