Solution-Prepare a work sheet for printer repair company

Prepare a work sheet for printer repair company

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Reference no: EM132481338

The Trial Balance of the Printer Repair Company at December 31, 2018, contains the following account balances listed in alphabetical order to increase your skill in sorting amounts to the proper work sheet columns.

Accounts Payable	$ 41,000
Accounts Receivable	92,000
	25,000
Accumulated Depreciation-Buildings	25,000
	9,000
Accumulated Depreciation-Equipment	9,000
Buildings	150,000
Capital Stock	65,000
Cash	41,000
Equipment	45,000
Prepaid Insurance	3,600
Retained Earnings, January 1, 2018	4,800
Salaries Expense	96,000
Service Revenue	290,000
Supplies on Hand	4,000
Utilities Expense	3,200

Question 1: Using these account balances and the following additional information, prepare a work sheet for Printer Repair Company. Arrange the accounts in their approximate usual order.

Supplies on hand at December 31, 2018, have a cost of $1,800.
The balance in the Prepaid Insurance account represents the cost of a two-year insurance policy covering the period from January 1, 2018, through December 31, 2019.
The estimated lives of depreciable assets are buildings, 30 years, and equipment, 15 years. No salvage values are anticipated.

Reference no: EM132481338

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Prepare a work sheet for printer repair company

Reference no: EM132481338

Reference no: EM132481338

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