Full file at https://testbankuniv.eu/Accounting-25th-Edition-Warren-Solutions-Manual CHAPTER 2 Analyzing Transactions
Prob. 2–3A (Concluded) 3.
FIRST-CLASS DESIGNS Unadjusted Trial Balance June 30, 2014 Debit Balances
Cash Accounts Receivable Supplies Prepaid Insurance Equipment Truck Notes Payable Accounts Payable Ellie Hopkins, Capital Ellie Hopkins, Drawing Fees Earned Wages Expense Rent Expense Utilities Expense Truck Expense Miscellaneous Expense
Credit Balances
11,020 5,850 1,800 2,700 8,500 28,000 25,000 5,225 21,500 3,000 22,650 5,100 4,200 2,480 975 750 74,375
74,375
4.
$9,145 ($22,650 – $5,100 – $4,200 – $2,480 – $975 – $750)
5.
As will be discussed in Chapter 3, various adjustments are normally required at the end of the accounting period. For example, adjustments for supplies used, insurance expired, and depreciation would probably be required. Note to Instructors: At this point, students have not been exposed to depreciation, but some insightful students might recognize the need for recording supplies used and insurance expired. You might use this as an opportunity to discuss what is coming in Chapter 3.
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Full file at https://testbankuniv.eu/Accounting-25th-Edition-Warren-Solutions-Manual