Problem 4-5B Crush Demolition Company

page 170 WorkSheet

April 30 2005
Account Title Trial Balance Adjustment Adjustment Trial Income Starement Balance Sheet
Balance Income Balance
dr cr dr cr dr cr dr Cr Dr Cr
Cash 9000 9000 9000
Supplies 18000 9900 8100 8100
Prepaid Insurance 14600 11500 3100 3100
Equipment 140000 140000 140000
Accumulated depreciation Equipment 10000 18000 28000 28000
Account Payable 16000 700 16700 16700
Interest Payable 0 200 200 200
Rent Payable 0 5360 5360 5360
Wages payable 0 2200 2200 2200
Property Tex payable 0 450 450 450
Long term notes payable 20000 20000 20000
J. Bonir Capital 66900 66900 66900
J. Bonir Withdrawals 24000 24000 24000
Demolition fees earned 177000 177000 177000
Depreciation expenses Equipment 0 18000 18000 18000
Wages expense 51400 2200 53600 53600
Interest expense 2200 200 2400 2400
Insurance expense 0 11500 11500 11500
Rent expense 8800 5360 14160 14160
Supplies expense 0 9900 9900 9900
Property Tex expense 8400 450 8850 8850
Repair expense 6700 6700 6700
Utilities 6800 700 7500 7500
Total 289900 289900 48310 48310 316810 316810 132610 177000 184200 139810
Net Income 44390 44390
Total 289900 289900 48310 48310 316810 316810 177000 177000 184200 184200
Crush Demolition Company
Ajustment Entries Journal
s.n Explanation DR CR
Demolition fees earnd 177000
Income Summery 177000
Income Summery 44390
J.Bonair Capital 44390
J.Bonair Capital 24000
J.Bonair Withdrawals 24000
Income Summery 132610
Depreciation expense 18000
Wages Expense 53600
interest Expense 2400
Insurence Expense 11500
Rent expense 14160
Supplies expense 9900
Property Tax expense 8850
Utililities expense 6700
Repair 7500
Crush Demolition Company
Balance Sheet
April 30 2005
Details Amount
Current Asset:
Cash 9000
Supplies 8100
Prepaid Insurance 3100
Total Current Asset 20200
Plant Asset:
Equipment 140000
Less: Accumulated Dep 28000
Total Plant Asset 112000
Total Asset 132200
Libilities
Account Payable 16700
Interest Payable 200
Rent Payable 5360
Wages payable 2200
Property Tex payable 450
24910
Total Current Libilities
Long term Libilities 20000
Long term notes payable
44910
Capital (66900+44390-24000) 87290
Total Libilities & Equity 132200
Crush Demolition Company
Income Statement
For End April 30 2005
Details Amount
Revenues
Tax earn 177000
Expenses
Depreciation expenses Equipment 18000
Wages expense 53600
Interest expense 2400
Insurance expense 11500
Rent expense 14160
Supplies expense 9900
Property Tex expense 8850
Repair expense 6700
Utilities 7500
132610
Net Income 44390
Crush Demolition Company
Statement of Onwer's Equity
Details
J. Bonir Capital 36900
Add:
Investment 30000 66900
Net Income 44390
111290
Less
J. Bonir Withdrawals 24000
Total Equity 87290