P 4. At the end of the fiscal year, the trial balance of Reed Delivery Service a

Question

P 4. At the end of the fiscal year, the trial balance of Reed Delivery Service appeared as shown above.

Required
1. Enter the trial balance amounts in the Trial Balance columns of a work sheet and complete the work sheet using the information that follows:

a. Expired insurance, $3,060.

b. Inventory of unused delivery supplies, $1,430.

c. Inventory of unused office supplies, $186.

d. Estimated depreciation on the building, $14,400.

e. Estimated depreciation on the trucks, $15,450.

f. Estimated depreciation on the office equipment, $2,700.

g. The company credits the lockbox fees of customers who pay in advance to the Unearned Lockbox Fees account. Of the amount credited to this account during the year, $5,630 had been earned by August 31.

h. Lockbox fees earned but unrecorded and uncollected at the end of the accounting period, $816.

i. Accrued but unpaid truck drivers' wages at the end of the year, $1,920.

Explanation / Answer

accounting

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