ACCOUNTING CONCEPTS – ACC 241 ACCOUNTING CYCLe ACCOUNTING CONCEPTS – ACC 241 ACCOUNTING CYCLe Question ACCOUNTING CONCEPTS – ACC 241 ACCOUNTING CYCLe Save your time! Proper editing and formatting Free revision, title page, and bibliography Flexible prices and money-back guarantee ORDER NOW NAME: _________________________________ DATE: _________ Make sure you submit a unique essay Our writers will provide you with an essay sample written from scratch: any topic, any deadline, any instructions. 100% ORIGINAL ORDER NOW Complete the attached worksheet for 2011 for Green Company, given the following information: Physical count of inventory on hand on December 31 $189,000 Insurance expired during the accounting period 5,000 Count of supplies on hand on December 31: Store supplies 1,300 Office supplies 750 Depreciation for the accounting period: Store equipment 4,500 Office equipment 2,800 Salaries earned, but not paid as of December 31: Sales salaries $3,850 Office salaries 1,150 5.000 Unearned rent on December 31 400 Prepare an income statement, statement of owner’s equity, and balance sheet using the forms below Trial Balance Adjustments Adj. Trial Balance Income Statement Balance Sheet dr Cr dr cr dr cr dr cr dr cr Cash 28,500 Accounts Receivable 132,500 Merchandise Inventory 195,000 Prepaid Insurance 9,700 Store Supplies 4,250 Office Supplies 2,100 Store Equipment 157,000 Accum. Depr. – Store Equipment 40,800 Office Equipment 50,000 Accum. Depr. – Office Equipment 17,200 Accounts Payable 66,700 Salaries Payable Unearned Rent 1,200 Note Payable 105,000 S. Klaus, Capital 224,600 S. Klaus, Drawing 30,000 Sales 915,000 Sales Returns and Allowances 11,900 Sales Discounts 7,100 Cost of Merchandise Sold 576,200 Sales Salaries Expense 76,400 Advertising Expense 25,000 Depr. Expense – Store Equipment Store Supplies Expense Miscellaneous Selling Expense 1,600 Office Salaries Expense 34,000 Rent Expense 16,000 Insurance Expense Depr Expense – Office Equipment Office Supplies Expense Misc. Administrative Expense 1,650 Rent Revenue Interest Expense 11,600 1,370,500 1,370,500 Net Income ____________________________________ Income Statement __________________________________________ Sales Cost of Merchandise Sold Operating Expenses Net Income ________________________________ Statement of Owners' Equity _____________________________________ S. Klaus, Capital - January 1, 2011 S. Klaus, Capital - December 31, 2011 $ - ___________________________ Balance Sheet _______________________________________ Assets Current Assets Total Current Assets $ - Long-Term Assets Total Assets $ - Liabilities Current Liabilities Total Liabilities $ - Owners' Equity Total Liabilities and Owners' Equity $ -