Version1 BUS2211-Bonus Option 0-5 pt Score to be added to Exam 1 Name Kristmann\

Question

Version1 BUS2211-Bonus Option 0-5 pt Score to be added to Exam 1 Name Kristmann's, Inc. has the following accounts and account balances at the end of the year Assume all accounts have normal balances Contruct a Trial Balance with proper heading, proper account order and solve for Cash Equipment Accounts Payable Common Stock Salaries Expense Utilities Expense Cash Accumulated Depreciation-Equipment Utilities Payable Dividends 20,000.00 4,000.00 18,000.00 6,000,00 1,000.00 ?2? Accounts Receivable Land Unearned Revenue Office Supplies Service Revenue Supplies Expense 1,500.00 500.00 10,000.00 3,000.00 4,000,00 25,000.00 1,000.00 500.00 70,000.00 500,00 Debit Credit

Explanation / Answer

Kristmann's Inc. Trial Balance Debit Credit Current assets: Cash (Plug-in Fig.) 25000 Accounts Receivable 4000 Office Supplies 500 Fixed Asset: Land 25000 Equipment 20000 Accumulated Depreciation Equipment 1500 CurrenLiabilities: Accounts Payable 4000 Utilities Payable 500 Unearned Revenue 1000 Equity accounts: Common stock 18000 Nominal accounts: Service revenue 70000 Salaries Expense 6000 Utilities Expense 1000 Supplies Expense 500 Depreciation Expense- Equipment 3000 Dividends 10000 Total 95000 95000

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