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Homework answers / question archive / Accounting 434 Assignment I Ramallah computer repair service company was established in January of 2018

Accounting 434 Assignment I Ramallah computer repair service company was established in January of 2018

Accounting

Accounting 434

Assignment I

Ramallah computer repair service company was established in January of 2018.  For its second year of operations and at 31/12/2019 the adjusted balances were as follows: 

Account

$

Advertising Expense

6,000

Cash

8,000

Rent

10,000

Service trucks

380,000

Tax Expense 

2,000

Accounts receivable

164,000

Insurance Expense

4,600

Revenue from repairs 

460,000

Wages Payable

26,000

Accounts Payable

37,000

J. Ali Capital

750,000

Arab Bank 

77,000

Accumulated depreciation - Equipment

14,000

Utilities expense

7,000

Accumulated depreciation-service trucks

38,000

J. Ali drawing

20,000

Parts and supplies on hand

99,000

Miscellaneous Expenses  

13,400

Prepaid insurance

15,000

Depreciation expense

12,000

Parts and supplies expense

67,000

Salaries 

118,000,

Equipment 

340,000

 

The accounts are listed in random order Required: 

  1. prepare a coded chart of accounts for the company
  2. prepare a trial balance in good form
  3. prepare the Statement of Position and the  Income statement for the company

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