Key Accounting Principles Volume 1, 4th Edition - Textbook - page 406

Appendix I Review Exercise Solutions
406
Chapter 6 Appendix Review Exercise—Solutions
CG Accounting
WorksheetJune 30, 2016
UnadjustedTrial Balance
Adjustments
Adjusted
Trial Balance
IncomeStatement
Balance Sheet &
Equity
Account Titles
DR
CR
CR
CR
DR
CR
DR
CR
DR
CR
Cash
$5,550
$5,550
$5,550
Accounts Receivable
4,600
$900
5,500
5,500
Prepaid Insurance
1,200
$100 1,100
1,100
Equipment
6,000
6,000
6,000
Accumulated Depreciation
$0
100
$100
$100
Accounts Payable
2,750
2,750
2,750
Interest Payable
0
25
25
25
Unearned Revenue
900
450
450
450
Bank Loan
3,050
3,050
3,050
Gordon, Capital
9,400
9,400
9,400
Gordon, Drawings
1,000
1,000
1,000
Service Revenue
3,600
1,350
4,950
$4,950
Advertising Expense
450
450
$450
Depreciation Expense
0
100
100
100
Insurance Expense
0
100
100
100
Interest Expense
0
25
25
25
Rent Expense
900
900
900
Total
$19,700
$19,700
$1,575 $1,575 $20,725 $20,725 1,575 4,950 19,150 15,775
Net Income (Loss)
3,375
3,375
Total
$4,950 $4,950 $19,150 $19,150