The Trial Balance of the Printer Repair Company at 2010 December 31, contains the following account balances listed in alphabetical order to increase your skill in sorting amounts to the proper work sheet columns.
|
Printer Repair Company |
|
|
Accounts Payable |
$41,000 |
|
Accounts Receivable |
92,000 |
|
Accumulated Depreciation—Buildings |
25,000 |
|
Accumulated Depreciation—Equipment |
9,000 |
|
Buildings |
140,000 |
|
Capital Stock |
65,000 |
|
Cash |
60,000 |
|
Equipment |
36,000 |
|
Prepaid Insurance |
3,600 |
|
Retained Earnings, 2010 January 1 |
4,800 |
|
Salaries Expense |
96,000 |
|
Service Revenue |
290,000 |
|
Supplies on Hand |
4,000 |
|
Utilities Expense |
3,200 |
Using these account balances and the following additional information, prepare a work sheet for Printer Repair Company. Arrange the accounts in their approximate usual order.
Supplies on hand at 2010 December 31, have a cost of USD 2,400.
The balance in the Prepaid Insurance account represents the cost of a two-year insurance policy covering the period from 2010 January 1, through 2011 December 31.
The estimated lives of depreciable assets are buildings, 40 years, and equipment, 20 years.
No salvage values are anticipated.