- Blue Spruce Company S Trial Balance At December 31 2020 Is Presented Below All 2020 Transactions Have Been Recorded E 1 (85.59 KiB) Viewed 9 times
- Blue Spruce Company S Trial Balance At December 31 2020 Is Presented Below All 2020 Transactions Have Been Recorded E 2 (39.79 KiB) Viewed 9 times
- Blue Spruce Company S Trial Balance At December 31 2020 Is Presented Below All 2020 Transactions Have Been Recorded E 3 (45.31 KiB) Viewed 9 times
- Blue Spruce Company S Trial Balance At December 31 2020 Is Presented Below All 2020 Transactions Have Been Recorded E 4 (27.79 KiB) Viewed 9 times
Blue Spruce Company's trial balance at December 31, 2020, is presented below. All 2020 transactions have been recorded except for the items described following the trial balance. Cash Accounts Receivable Notes Receivable Interest Receivable Inventory Prepaid Insurance Land Buildings Equipment Patents Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Notes Payable (due in 2020) Interest Payable Notes Payable (due after 2020) Common Stock Retained Earnings Dividends Debit $26,000 36,500 8,900 -0- 36,200 3,780 21,800 132,000 55,000 10,300 15,000 Credit $400 44,000 22,000 27,100 -0- 3,300 13,000 -0- 36,000 46,500 57,580
Sales Revenue Interest Revenue Rent Revenue Gain on Disposal of Plant Assets Bad Debts Expense Cost of Goods Sold Depreciation Expense Insurance Expense Interest Expense Other Operating Expenses Amortization Expense Salaries and Wages Expense Total -0- 640,000 -0- -0- -0- 61,400 -0- 106,000 903,000 -0- -0- -0- $1,152,880 $1,152,880
Blue Spruce Company Journal Enteries Date Particulars 1.5.2019 1.7.2019 Equipment a/c To Cash (Equipment purchased) Cash a/c Dr. Accumulated Depreciation Equipment a/c Dr. Depreciation Expense a/c Dr. To Equipment To Gain on sale (Equipment sold) 31.12.2019 Accounts Receivable a/c To Sakes Revenue (Sales on account) Cost of Goods Sold a/c To Inventory (To record cost of goods sold) 31.12.2019 Bad Debts Expense a/c Dr. (Uncollectibles estimated) 31.12.2019 Interest Receivable a/c Dr. To Allowance for Doubtful Accounts To Interest Revenue (Interest accrued) 8900 x 8% x 9/12 31.12.2019 Insurance Expense a/c To Prepaid Insurance (Insurance expensed) 3780 x 4/6 31.12.2019 Depreciation Expense a/c 31.12.2019 Depreciation Expense a/c 31.12.2019 Depreciation Expense a/c Dr. To Accumulated Depreciation-Buildings (To record depeciation) ( 132000-30000) / 30 31.12.2019 Amortization Expense a/c To Patents (To record amortisation) 10300/10 31.12.2019 Salaries and Wages Expense a/c To Salaries and Wages Payable (Salary accrued) Dr. 31.12.2019 Unearned Rent Revenue a/c To Rent Revenue (Revenue earned) 3300/3 31.12.2019 Interest Expense a/c Dr. Dr. To Accumulated Depreciation-Equipment (To record depeciation) (19200-2100)/5 = 3420 x 8/12 To Interest Payable Dr. (Interest expense accrued) 13000 x 9% + 36000 x 9% Dr. Dr. To Accumulated Depreciation-Equipment (To record depeciation) (55000-5100) = (49900 - 4990) / 5 Dr. Dr. Debit in $ Credit in $ 19200 Dr. Dr. 3600 2000 450 5400 3200 4000 534 2520 3400 8982 2280 1030 2200 1100 4410 19200 5100 5400 3200 4000 534 2520 3400 8982 2280 1030 2200 1100 4410
Prepare an updated December 31, 2020, trial balance. Blue Spruce Corp. Trial Balance December 31, 2020 Debit $ 11 Credit $