100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
[Solved] Kristi Williams offers family counseling services specializing in financial and marital problems. A chart of accounts and a trial balance taken on December 31, 20--, follow.$15.49
Add to cart
[Solved] Kristi Williams offers family counseling services specializing in financial and marital problems. A chart of accounts and a trial balance taken on December 31, 20--, follow.
Kristi Williams offers family counseling services specializing in financial and marital problems. A chart of accounts and a trial balance taken on December 31, 20--, follow.
Information for year-end adjustments is as follows:
(a) Office supplies on hand at year-end amounted to $100.
(...
kristi williams offers family counseling services specializing in financial and marital problems a chart of accounts and a trial balance taken on december 31
follow
1 prepare the work sheet
Written for
Accounting
All documents for this subject (1305)
1
review
By: luiscasarez663 • 7 months ago
Seller
Follow
solutions
Reviews received
Content preview
Kristi Williams offers family counseling services specializing in financial and marital problems.
A chart of accounts and a trial balance taken on December 31, 20--, follow.
.:.
Information for year-end adjustments is as follows:
(a) Office supplies on hand at year-end amounted to $100.
(b) On January 1, 20--, Williams purchased office equipment that cost $18,000. It has an
expected useful life of 10 years and no salvage value.
, (c) On July 1, 20--, Williams purchased computer equipment costing $6,000. It has an expected
useful life of three years and no salvage value. Assume that Williams computes depreciation to
the nearest full month.
(d) On December 1, 20--, Williams paid a premium of $600 for a six-month insurance policy.
REQUIRED
1. Prepare the work sheet for the year ended December 31, 20--.
2. Prepare adjusting entries in a general journal.
SOLUTION:
1.
Kristi Williams Family
Work
For Year Ended
TRIAL BALANCE ADJUSTMENTS
ACCOUNT TITLE
DEBIT CREDIT DEBIT CREDIT
Cash 8 7 3 0 00
Office Supplies 7 0 0 00 (a) 6 0 0 00
Prepaid Insurance 6 0 0 00 (d) 1 0 0 00
Office Equipment 18 0 0 0 00
Accum. Depr.—Office Equip. (b) 1 8 0 0 00
Computer Equipment 6 0 0 0 00
Accum. Depr.—Computer (c) 1 0 0 0 00
Equip.
Notes Payable 8 0 0 0 00
Accounts Payable 5 0 0 00
Kristi Williams, Capital 11 4 0 0 00
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller solutions. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
