1. Complete the following Six-Column Worksheet. (keycheck figures)
(8 marks)
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J. Smith Consulting Service Worksheet For the Month Ended November 30, 2000 | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Account Title | Acc. No. | Trial Balance | Income Statement | Balance Sheet | |||||
| Debit | Credit | Debit | Credit | Debit | Credit | ||||
| 1 | Cash | 101 | 1,600.00 | 1 | |||||
| 2 | A/R - Black | 105 | 400.00 | 2 | |||||
| 3 | A/R - Seymour | 110 | 1,000.00 | 3 | |||||
| 4 | Furniture | 115 | 1,400.00 | 4 | |||||
| 5 | Equipment | 120 | 2,800.00 | 5 | |||||
| 6 | Building | 125 | 100,000.00 | 6 | |||||
| 7 | Bank Loan Payable | 201 | 3,000.00 | 7 | |||||
| 8 | A/P - Midland Co. | 205 | 800.00 | 8 | |||||
| 9 | A/P - Acme Suppliers | 210 | 500.00 | 9 | |||||
| 10 | Mortgage Payable | 215 | 90,000.00 | 10 | |||||
| 11 | J. Smith, Capital | 301 | 12,500.00 | 11 | |||||
| 12 | J. Smith, Drawings | 302 | 100.00 | 12 | |||||
| 13 | Consulting Fees Earned | 401 | 1,800.00 | 13 | |||||
| 14 | Hydro Expense | 510 | 200.00 | 14 | |||||
| 15 | Rent Expense | 515 | 1,050.00 | 15 | |||||
| 16 | Phone Expense | 520 | 50.00 | 16 | |||||
| 17 | 108,600.00 | 108,600.00 | 17 | ||||||
| 18 | 18 | ||||||||
| 19 | 19 | ||||||||
| 20 | 20 | ||||||||
| 21 | 21 | ||||||||
| 22 | 22 | ||||||||
2. Use the completed Six-Column Worksheet to complete the report form, classified balance
sheet presented below. NOTE: This business pays $500.00 a month toward its mortgage.
(keycheck figures) (8 marks)
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J. Smith Consulting Service Balance Sheet As at November 30, 2000 | |||
|---|---|---|---|