Accounting Financial Statements of a Service Bu
Unadjusted Adjusted Unadjusted Adjusted
Accounts Payable 25,200 25,200 Notes Payable 37,000 37,000
Accounts Receivable 30,500 30,500 Owner’s Capital 101,700 101,700
Accum. Dep – Equip 34,000 45,000 Owner’s Drawings 10,000 10,000
Cash 26,000 26,000 Prepaid Insurance 10,500 3,500
Cost of goods sold 518,000 518,000 Property Tax Expense 2,500
Freight-Out 6,500 6,500 Property Taxes Payable 2,500
Equipment 146,000 146,000 Rent Expense 15,000 15,000
Depreciation Expense 11,000 Salaries Expense 96,000 96,000
Insurance Expense 7,000 Sales 720,000 720,000
Interest Expense 6,400 6,400 Commission Expense 6,500 11,000
Interest Revenue 2,000 2,000 Commission Payable 4,500
Inventory 32,000 32,000 Sales Returns and Allow 8,000 8,000
Utilities Expense 8,500 8,500
7,000
Unadjusted Adjusted Unadjusted Adjusted
Accounts Payable 25,200 25,200 Notes Payable 37,000 37,000
Accounts Receivable 30,500 30,500 Owner’s Capital 101,700 101,700
Accum. Dep – Equip 34,000 45,000 Owner’s Drawings 10,000 10,000
Cash 26,000 26,000 Prepaid Insurance 10,500 3,500
Cost of goods sold 518,000 518,000 Property Tax Expense 2,500
Freight-Out 6,500 6,500 Property Taxes Payable 2,500
Equipment 146,000 146,000 Rent Expense 15,000 15,000
Depreciation Expense 11,000 Salaries Expense 96,000 96,000
Insurance Expense 7,000 Sales 720,000 720,000
Interest Expense 6,400 6,400 Commission Expense 6,500 11,000
Interest Revenue 2,000 2,000 Commission Payable 4,500
Inventory 32,000 32,000 Sales Returns and Allow 8,000 8,000
Utilities Expense 8,500 8,500
7,000
