Question

3. The following T-accounts for WXY Inc. are given. For the year-end depreciation has been journaled. No other adjusting entries have been made so far. Fill in the blanks. PP&E Bank 575,000 Depreciation 118.000 A/P Misc OB OB 75.000 AR 15,000.00 Inventory 32.000 Retums outward A/P Payments OB 8,000 47.740 OB 50.000 Purchases Purchases 65,000 Returns Equity lOB 700,000 AVR Profit 17,000 Received payments. OB Sales 188,020 Sales 49,980 Cash at hand 8.000 Misc. OB 5.260 Misc. PnL 500 Revenue Rent income 3,000 Misc 3,000 Cost of good sold Payroll Office supplies Depreciation Payroll expense 15,000 15.000 Bank 4.000 75,000 Office supplies expenser 4,000 Cash Balance Sheet PP&E 500,000 Equity 9,000 A/P 134.000 VAT payable Inventory AR Rent income Misc. Bank 3.000 Cash at hand VAT Receivable Purchases 12.350 Retums outward Office supplies 760 VAT payable ISales

Answer 1

Nat Peavakle PPXE Parchaes 12,35e Rehans ofr Supie SsceDep 75c00 CB CB Soo Vat Bde Invent Redans Byles &eco 3200 OB Rechates 9,000 Bank Alp Mis AR 15ec AlR 1,21,000 1SC740 CB Reed pazed 1,21 17ceo Ale Cles 1,88020 Fales 49,980 CF Pe47,7yo 0B OThey lo00s 7deanchaus (son CB Cash Misc. 5260 08 Equit Mis 3000 CB 5740 7,0gece Profit all CR 15co ofe exp 4000 asan Rent Incene Misc CE ono lae

PAL Revenue 2,38000 Mite Soo Rent Incone 3000 COGS Pyiel afcupls Depevton 4,000 oco'sL Profit 3.4,000 241,000 Bal/theet Equity PPAE Seo000 Inetey Alp 9000 67,260 AR ,24,000 o2e'sn Bant Sucpense Cosh 기아열 구가 ohL's'i 0c'L9 aresh 1,2as als