he following is the adjusted trial balance for Baker Services. Accounts Debit Credit $31,100 30,000 3500 3200 59,000 150,000 Cash Accounts Receivable Prepaid Insurance Office Supplies Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Unearned Revenue Mortgage Payable Baker, Capital Baker, Withdrawals Service Revenue Salaries Expense Depreciation Expense-Building and Equipment Supplies Expense Insurance Expense Utilities Expense Total $14,500 77,000 7000 25,000 2000 26,000 106,000 34,500 23,000 275,000 64,000 5600 11,000 14,600 18.000 $480.000 $480.000

he following is the adjusted trial balance for Baker Services. Accounts Debit Credit $31,100 30,000 3500 3200 59,000 150,000 Cash Accounts Receivable Prepaid Insurance Office Supplies Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Unearned Revenue Mortgage Payable Baker, Capital Baker, Withdrawals Service Revenue Salaries Expense Depreciation Expense-Building and Equipment Supplies Expense Insurance Expense Utilities Expense Total $14,500 77,000 7000 25,000 2000 26,000 106,000 34,500 23,000 275,000 64,000 5600 11,000 14,600 18.000 $480.000 $480.000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Identify the current liability associated with each of the following operating activities 1-Perform work on a warranty claim 2-Pay income taxes 3-Purchases supplies 4-Pay payroll taxes 5-Borrow money for operations using a short term note 6-Process cash received in advance from customers 7-Purchase inventory 8- Pay employee salaries
The following information relates to SaveSA, a service enterprise: Pre adjusted trial balance of SaveSA at 28 February 202 3. Debit Credit R R. Land and buildings at cost 130 000 Furniture and fittings at cost 50 000 Accumulated depreciation - 28/02/2022: Furniture and Fittings 5000 15% Mortgage bond secured by land & buildings 50 000 Capital 95 500 Trade debtors 23 350 Trade creditors 13 400 Bank overdraft 960 Drawings 7 300 Petty cash 550 Stationery 2 450 Salaries 35 10 0 Insurance 9 500 Electricity 11 000 Telephone 1 860 Fees earned 89 500 Rent income 17 500 Bank charges 750 271 860 271 860 Additional Information: 1. The Account of S Sorry, a debtor owing R200 must be written off. 2. A provision for doubtful debts at 5% on outstanding trade debtors balances still to be created. 3. Rent income amounts to R950 per month and the rental has been charged for the year. 4. Provide for interest for the year still outstanding on mortgage bond. 5. Provide for depreciation on furniture and…
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Blue Spruce Corp. had the following items to report on its balance sheet: Employee advances Amounts owed by customers for the sale of services (due in 30 days) Refundable income taxes Interest receivable Accepted a formal instrument of credit for services (due in 18 months) A loan to company president Dishonored a note for principal and interest which will eventually be collected $17870 $15650 $20920 $1520 $14270 3190 1300 1050 2380 Based on this information, what amount should appear in the "Other Receivables" category? 10400 1380
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Data for adjustments: • Accrued interest on loans payable 18,000
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