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    Financial Statements for Service Organisations (2)

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    marissaclement20

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    Financial Statements for Service Organisations (2)

    Uploaded by

    marissaclement20
    3 views2 pages

    Copyright

    © © All Rights Reserved

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    DOC, PDF, TXT or read online from Scribd

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    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    3 views2 pages

    Financial Statements for Service Organisations (2)

    Uploaded by

    marissaclement20

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 2

    (1) The Unadjusted Trial Balance for Kaybec’s Catering, is given below.

    Prepare the Financial


    Statements for Kaybec’s Catering.

    Kaybec’s Catering
    Unadjusted Trial Balance December 31, 2021
    Debit Credit
    Cash $ 25,500
    Accounts receivable 15,000
    Supplies 4,500
    Prepaid insurance 5,000
    Equipment 83,000
    Accounts payable 1,800
    Salaries payable 1,098
    3,700
    Capital 93,200
    Drawings 2,500
    Service revenue 58,696
    Salary expense 15,700
    Insurance expense 1,500
    Electricity 1,100
    Advertising expense 1,700
    Telephone Expenses 2,054
    Water rate 940

    158,494 158,494
    (2) The Unadjusted Trial Balance for Sade’s Spa, is given below. Prepare the Financial Statements
    for Sade’s Spa.

    Sade’s Spa
    Unadjusted Trial Balance December 31, 2021
    Debit Credit
    Bank $ 51,000
    Accounts receivable 30,000
    Supplies 9,000
    Prepaid Rent 10,000
    Land & Buildings 166,000
    Accounts payable 3,600
    Salaries payable 2,196
    7,400
    Capital 186,400
    Drawings 5,000
    Service revenue 117,392
    Salary expense 31,400
    Rent expense 3,000
    Electricity 2,200
    Promotion expense 3,400
    Stationery Expenses 4,108
    Water rate 1,880

    316,988 316,988

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