The trial balance of ABC Services

Question 1: (25 Points) Al, Cl, D3 The trial balance of ABC Services pertains to December 31, 2019, which is the end of ABC’s annual accounting period. Data needed for the adjusting entries include
a. Supplies on hand at year-end, BD 2000. b. Depreciation on equipment, BD 20000. c. Depreciation on building, BD t0000. d. Salaries owned but not yet paid, 13D 5000 e. Accrued service revenue, BD 12000 C. BD 32000 of the unearned service revenue has been earned.
Instructions:
a) Journalize ABC’s adjusting entries at December 31, 2019. (5 points) b) Post the adjusting entries in the T-accounts. (5 points) c) Write the trial balance, enter the adjusting entries, and prepare an adjusted trial balance. (5 points) d) Prepare the income statement, the statement of owner’s equity, and the balance sheet. (5 points) e) Prepare the closing journal entries (based on the adjusted trial balance). (5 points)
ABC UN-ADJUSTED TRIAL BALANCE December 31, 2019 Cash 198.000 Accounts receivable 370,000 Supplies 6.000 Furniture and fixtures 100,000 Accumulated depreciation-equipment 40.000 Building 250,000 Accumulated depreciation-building 130.000 Accounts payable 380,000 Salary payable 5,000 Unearned service revenue 45,000 Jay Clay. capital 293.000 Jay Clay, withdrawals 65,000 Service revenue 286.000 Salary expense 172,000 Supplies expense 2,000 Depreciation expense-equipment 20,000 Depreciation expense-building 10,000 Miscellaneous expense 13,000 Total BD 1.174.000 BD 1.174.000

Sample Solution

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History of developmental milestones may give a clue to the cause of obesity eg. Delayed motor milestones, feeding difficulty in infancy followed by a voracious appetite may be suggestive of Prader-Willi Syndrome.
Family history of obesity, diabetes mellitus, hypertension and dyslipidemia should be obtained.
History of intake of antipsychotics, anti-depressants or long-term corticosteroids should be obtained as they lead to weight gain.
Polyuria, polydipsia and unexplained weight loss may suggest onset of diabetes mellitus. Scanty and Delayed or missed periods in girls with or without hirsutism may suggest the presence of polycystic ovarian disease (PCOD).
Enquire about excessive daytime sleepiness, snoring and morning headaches for obstructive sleep apnea and knee or hip pain for Slipped capital femoral epiphyses.
History of dietary practices, TV/screen viewing duration and physical activity may give some insight into the cause of weight gain. Majority of parents of obese children feel that their child’s weight gain is due to pathology and are oblivious to their life-style. A detailed dietary history with calculation of caloric intake would help convince them about the need for life style changes.

2) Anthropometry:

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