Haintr.uni Weygandt,Financial Accounting: IFRS, 3 WileyPLUS: MyWileyPLUS Co tice

Question

Haintr.uni Weygandt,Financial Accounting: IFRS, 3 WileyPLUS: MyWileyPLUS Co tice ACCOUNTING-1061-PU Gradebook ORION Downloadable eTextbook ment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION B Exercise 4-6 (Part Level Submission) Selected worksheet data for Bridgeport Company are presented below. (a) Fill in the missing amounts. Trial Balance Adjusted Trial Balance Account Title Accounts Receivable Prepaid Insurance Supplies Accumulated Depreciation-Equipment Salaries and Wages Payable Service Revenue Insurance Expense Depreciation Expense 34,399 20,550 25,319 7,270 11,132 4,144 95,311 88,640 9,677 4,302 48,289 Supplies Expense Salaries and Wages Expense SHOW LIST OF ACCOUNTS K) 2017/11/1

Explanation / Answer

Trial Balance Adjusted trial balance Debit Credit Debit Credit Accounts Receviable      34,399           34,399 Prepaid Insurance      25,319           20,550 Supplies         7,270             2,968 Accu Depn-Equipments      11,132      20,809 Salaries & Wages Payable                -           4,144 Service Revenue      88,640      95,311 Insurance expense             4,769 Depn Expenses             9,677 Supplies             4,302 Salaries Expenses      44,145           48,289 (1) Account Recivable Increase in Service revenue in Adj, T/B 95311-88640=6671 A/R for Trial Balance= 34399-6671=27728 in other words revenue booked in T/B by 6,671 (2) Supplies Supplies Chared to P& L in Adjuedted TB=7270-4302=2968 is the balance supplies in inventory (3) Depn booked in Adjusted Trial balance Accumulated Depn in adjusted TB will be =11132+9677=20809

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