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Preparing a Six-Column Work Sheet The general ledger account balances on May 31 for
Chapter 8, Problem 8-7(choose chapter or problem)
Preparing a Six-Column Work Sheet
The general ledger account balances on May 31 for Outback Guide Service are:
101 Cash in Bank | $ 2,834 |
105 Accts. Rec.—Mary Johnson | 384 |
125 Office Supplies | 307 |
130 Office Equipment | 5,902 |
135 Office Furniture | 2,804 |
140 Computer Equipment | 3,295 |
145 Hiking Equipment | 922 |
150 Rafting Equipment | 8,351 |
205 Accts. Pay.—Peak Equipment Inc. | 1,204 |
301 Juanita Ortega, Capital | 20,419 |
302 Juanita Ortega, Withdrawals | 1,800 |
310 Income Summary | --- |
401 Guide Service Revenue | 9,179 |
501 Advertising Expense | 795 |
505 Maintenance Expense | 125 |
515 Rent Expense | 2,000 |
525 Utilities Expense | 1,283 |
Instructions Prepare a worksheet for Outback Guide Service for the period ended May 31 in your working papers.
Questions & Answers
QUESTION:
Preparing a Six-Column Work Sheet
The general ledger account balances on May 31 for Outback Guide Service are:
101 Cash in Bank | $ 2,834 |
105 Accts. Rec.—Mary Johnson | 384 |
125 Office Supplies | 307 |
130 Office Equipment | 5,902 |
135 Office Furniture | 2,804 |
140 Computer Equipment | 3,295 |
145 Hiking Equipment | 922 |
150 Rafting Equipment | 8,351 |
205 Accts. Pay.—Peak Equipment Inc. | 1,204 |
301 Juanita Ortega, Capital | 20,419 |
302 Juanita Ortega, Withdrawals | 1,800 |
310 Income Summary | --- |
401 Guide Service Revenue | 9,179 |
501 Advertising Expense | 795 |
505 Maintenance Expense | 125 |
515 Rent Expense | 2,000 |
525 Utilities Expense | 1,283 |
Instructions Prepare a worksheet for Outback Guide Service for the period ended May 31 in your working papers.
ANSWER:Step 1 of 2
A Six-Column Worksheet is prepared by the business to gain information regarding all the ledger accounts. This worksheet has various sections namely, the heading, the account number, the account name, the trial balance, the income statement, and the balance sheet.