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

Question

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

Explanation / Answer

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

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