Principles of Accounting Practice Set 4
The worksheet for Gibler Rental Company appears below. Using the adjustment data below, complete the worksheet.
Adjustment data:
| (a) | Prepaid rent expired during August, $3. | |
| (b) | Depreciation expense on equipment for the month of August, $8. | |
| (c) | Supplies on hand on August 31 amounted to $6. | |
| (d) | Salaries and wages expense incurred at August 31 but not yet paid amounted to $10. |
ANSWER:
Ex. 190 GIBLER RENTAL COMPANY Worksheet For the Month Ended August 31 , 2016 Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Titles Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 20 Accounts Receivable 12 Prepaid Rent 8 Supplies 10 Equipment 50 Accum . Depreciation — Equipment 10 Accounts Payable 20 Owner 's Capital 29 Owner 's Drawings 2 Rent Revenue 73 Depreciation Expense 6 Rent Expense 4 Salaries and Wages Expense 20 Totals 132 132 Supplies Expense Salaries Payable Totals Net Income Totals
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