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Exercise E3-10 and E3-22

1. The document is an adjusted trial balance for Greco Resort as of August 31, 2014 that lists asset, liability, equity, revenue and expense accounts with their debit and credit balances. 2. It shows assets including cash, accounts receivable, prepaid insurance, land, buildings, equipment, and accumulated depreciation accounts. Liabilities include accounts payable, unearned rent revenue, salaries payable, interest payable and mortgage payable. Equity includes common stock and retained earnings. 3. Revenue and expense accounts include rent revenue, depreciation expense, insurance expense, interest expense, salaries expense and various other operating expenses.

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192 views4 pages

Exercise E3-10 and E3-22

1. The document is an adjusted trial balance for Greco Resort as of August 31, 2014 that lists asset, liability, equity, revenue and expense accounts with their debit and credit balances. 2. It shows assets including cash, accounts receivable, prepaid insurance, land, buildings, equipment, and accumulated depreciation accounts. Liabilities include accounts payable, unearned rent revenue, salaries payable, interest payable and mortgage payable. Equity includes common stock and retained earnings. 3. Revenue and expense accounts include rent revenue, depreciation expense, insurance expense, interest expense, salaries expense and various other operating expenses.

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© © All Rights Reserved
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EXERCISE E-10

GRECO RESORT
ADJUSTED TRIAL BALANCE
8/31/2014

CASH
ACCOUNTS RECEIVABLE
PREPAID INSURANCE
SUPPLIES
LAND
BUILDINGS
ACCUMULATED DEPRECIATION - BUILDINGS
EQUIPMENT
ACCUMULATED DEPRECIATION - EQUIPMENT
ACCOUNTS PAYABLE
UNEARNED RENT REVENUE
SALARIES AND WAGES PAYABLE
INTEREST PAYABLE
MORTGAGE PAYABLE
COMMON STOCK
RETAINED EARNINGS
DIVIDENDS
RENT REVENUE
DEPRECIATION EXPENSE - BUILDINGS
DEPRECIATION EXPENSE - EQUIPMENT
INSURANCE EXPENSE
INTEREST EXPENSE
SALARIES AND WAGES EXPENSE
SUPPLIES EXPENSE
UTILITIES EXPENSE
MAINTENANCE AND REPAIRS EXPENSE
Total

DEBIT
19,600.00
800.00
3,375.00
450.00
20,000.00
120,000.00

CREDIT

1,080.00
16,000.00
360.00
4,500.00
800.00
375.00
1,200.00
60,000.00
91,000.00
9,000.00
5,000.00
80,800.00
1,080.00
360.00
1,125.00
1,200.00
45,175.00
2,150.00
9,200.00
3,600.00
249,115.00

249,115.00

1 insurance expense
1,125.00
prepaid insurance
1,125.00
2 supplies expense
2,150.00
supplies
2,150.00
3 depreciation expense-buildings
1,080.00
accum. Depr- building
1,080.00
depreciation expense-equipment
360.00
accum. Depr-equipment
360.00
4 unearned rent revenue
3,800.00
rent revenue
3,800.00
5 salaries expense
375.00
salaries payable
375.00
6 accounts receivable
800.00
rent revenue
800.00
7 interest expense
1,200.00
interest payable
1,200.00
(0.08*3/12*60000) just for these 3 months

EXERCSE E3-22
ED BRADLEY CO.
WORKSHEET
FOR THE MONTH ENDED APRIL 30, 2014
Adjusted
Trial Balance
Dr.
Cr.

Account Titles

Cash
Accounts Receivable
Prepaid Rent
Equipment
Accumulated Depreciation - Equipment
Notes Payable
Accounts Payable
Common Stock
Retained Earings - April 1, 2014
Dividends
Service Revenue
Salaries and Wages Expense
Rent Expense
Depreciation Expense
Interest Expense
Interest Payable
Totals

Income
Statement
Dr.
Cr.

18,972
6,920
2,280
18,050

18,972
6,920
2,280
18,050
4,895
5,700
4,472
34,960
1,000

4,895
5,700
4,472
34,960
1,000

6,650

6,650
12,590

12,590

6,840
3,760
145
83
-

6,840
3,760
145
83
83 -

63,700

63,700

Net Income
Totals

10,828
1,762
12,590

ED Bradley CO.
Balance Sheet
41,759
Assets
Current Asset
Cash
Accounts Receivable
Prepaid Rent
Total current asset
Property, Plant and Equipment
Equipement
Accumulated Depreciation- Equipment
Total property, plant and equipment
Total Asset

Balance
Sheet
Dr.
Cr.

18,972
6,920
2,280
28,172
18,050
(4,895)
13,155
41,327

12,590
12,590

83
52,872

51,110

52,872

1,762
52,872

Liabilites
Current liabilites
Account Payable
Interest Payable
Total current liabilities
Long Term liabilities
Notes payable
Total Liabilities
Stockholers' equity
Common Stock
Retained Earning
total stockholders' equity
Total liabilities and stockholers' equity

Begainning bal-retained earning


plus: net income
Less: dividends
Ending bal-retained earning

4,472
83
4,555
5,700
10,255

34,960
(3,888)
31,072
41,327

1,000
1,762
6,650
(3,888)

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