Question
Exercise 22-19
Dr.
Cr.
No.
Account Titles and Explanation
Debit
Credit
SHOW LIST OF ACCOUNTS
No.
Account Titles and Explanation
Debit
Credit
SHOW LIST OF ACCOUNTS
No.
Account Titles and Explanation
Debit
Credit
|
Exercise 22-19
A partial trial balance of Pina Corporation is as follows on December 31, 2018.
|
|
|
Dr.
|
|
Cr.
|
|
Supplies
|
|
$2,600
|
|
|
|
Salaries and wages payable
|
|
|
|
$1,600
|
|
Interest Receivable
|
|
5,600
|
|
|
|
Prepaid Insurance
|
|
96,000
|
|
|
|
Unearned Rent
|
|
|
|
0
|
|
Interest Payable
|
|
|
|
14,400
|
Additional adjusting data:
|
1.
|
|
A physical count of supplies on hand on December 31, 2018, totaled $1,200.
|
|
2.
|
|
Through oversight, the Salaries and Wages Payable account was not changed during 2018. Accrued salaries and wages on December 31, 2018, amounted to $4,000.
|
|
3.
|
|
The Interest Receivable account was also left unchanged during 2018. Accrued interest on investments amounts to $4,700 on December 31, 2018.
|
|
4.
|
|
The unexpired portions of the insurance policies totaled $66,000 as of December 31, 2018.
|
|
5.
|
|
$26,400 was received on January 1, 2018, for the rent of a building for both 2018 and 2019. The entire amount was credited to rent revenue.
|
|
6.
|
|
Depreciation on equipment for the year was erroneously recorded as $5,200 rather than the correct figure of $52,000.
|
|
7.
|
|
A further review of depreciation calculations of prior years revealed that equipment depreciation of $7,200 was not recorded. It was decided that this oversight should be corrected by a prior period adjustment.
|
|
|
|
|
