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10-COLUMN WORKSHEET FINANCIAL ACCOUNTING
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10 Column Worksheet in financial accounting
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10-COLUMN WORKSHEETFINANCIAL ACCOUNTING
ILLUSTRATION 3.10
BECK CLEANINGADJUSTING ENTRY DATA
JULY 31
A)Revenue earned but unbilled at JULY 31, $120.
B)Accrued wages at JULY 31, $30.C)Supplies on hand at JULY 31, $70.D)Truck depreciation for JULY 31, $100.
ILLUSTRATION 3.11
BECK CLEANINGWORK SHEET
JULY 31A/C #
ACCOUNT UNADJUSTED TRIAL BALANCE
Dr. Cr.
111213150152122310315161626364
Cash Accounts ReceivableCleaning Supplies Truck Accumulated Depreciation-TruckAccounts PayableWages PayableSandra Beck, CapitalSandra Beck, WithdrawalsCleaning RevenueWage ExpenseRent ExpenseSupplies ExpenseDepreciation Expense
Net Income
$520$340$180
$5000
$750
$410$200--0--
--0--
$1300$60
--0-- $3310
$2730
$7400 $7400
ADJUSTMENTS ADJUSTEDTRIAL BALANCE
INCOME STATEMENT BALANCE SHEET
Dr. ($) Cr. ($) Dr. ($) Cr. ($) Dr. ($) Cr. ($) Dr. ($) Cr. ($)
a) 120
b) 30
c) 110
d) 100
c) 110
d) 100
b) 30
a) 120
520 460 70 5000
750
440200110100
14006030
3310
2850440200110100
2850
520460
705000
750
14006030
3310
360
360
7650 7650 8502000
2850 6800 4800
2850 2850 6800 6800
ILLUSTRATION 3.12
DATE ACCOUNT NAMES & EXPLANATION
A/C #
DEBIT $
CREDIT $
19--JULY 31
JULY 31
JULY 31
JULY 31
ADJUSTING JOURNAL ENTRIES (A)Accounts Receivable Cleaning RevenueTo recognize unbilled revenue at JULY 31. (B)Wage Expense Wages PayableAccrued wages at JULY 31. (C)Supplies Expense Cleaning ExpenseTo reflect as expense supplies used during JULY. (D)Depreciation Expense Accumulated Depreciation-TruckTo recognize truck depreciation for JULY.
120
30
110
110
120
30
110
110
ILLUSTRATION 3.13
BECK CLEANINGINCOME STATEMENT
FOR THE MONTH OF JULY 19--
Cleaning Revenue $2850Expenses:Wages $440Rent $200Supplies $110Depreciation $100 $ 850Net Income $2000
ILLUSTRATION 3.14
BECK CLEANINGSTATEMENT OF OWNER’S CAPITAL
FOR THE MONTH OF JULY 19--
Capital Balance, July 1 $3310Net Income for July $2000Total $5310Less: July Withdrawals $ 750Capital Balance, July 31 $4560
ILLUSTRATION 3.15
BECK CLEANINGSTATEMENT OF OWNER’S CAPITAL
FOR THE MONTH OF JULY 19--
ASSETS LIABILITIES + OWNER EQUITY
CashAccounts ReceivableCleaning SuppliesTruck $5000Less: AccumulatedDepreciation $1400
$520$460
$70
$3600
Accounts PayableWages payable
Sandra Beck, Capital
$560$30
$4560
Total Assets $4650 Total Liabilities and Owner’s Equity
$4650
