Figure APC-1 is the condensed worksheet for the Amoss Company as of December 31, 2015.
Additional Information:
Prepaid insurance is for a two-year theft policy dated July 1, 2015.
The ending inventory amounts to $300.
The building is being depreciated over a 30-year life, straight-line, no salvage value.
The balance in Unearned Consulting Revenue pertains to a contract sold on September 1, 2015, to provide service to a client for one year.
Office supplies on hand at year-end amount to $24.
At year-end, there are accrued salaries of $50.
Repair Service Revenue includes a contract for $120 received on July 1, 2015, for a one-year period of time.
The tax rate is 50%.
Required:
Complete the worksheet, assuming that adjusting entries are made only at December 31, 2015.

Question

Figure APC-1 is the condensed worksheet for the Amoss Company as of December 31, 2015.
Additional Information: 
Prepaid insurance is for a two-year theft policy dated July 1, 2015.
The ending inventory amounts to $300.
The building is being depreciated over a 30-year life, straight-line, no salvage value.
The balance in Unearned Consulting Revenue pertains to a contract sold on September 1, 2015, to provide service to a client for one year.
Office supplies on hand at year-end amount to $24.
At year-end, there are accrued salaries of $50.
Repair Service Revenue includes a contract for $120 received on July 1, 2015, for a one-year period of time.
The tax rate is 50%.
Required:
Complete the worksheet, assuming that adjusting entries are made only at December 31, 2015.

Quizplus · Accepted Answer

The Answer of Figure APC-1 is the condensed worksheet for the Amoss Company as of December 31, 2015.
Additional Information: 
Prepaid insurance is for a two-year theft policy dated July 1, 2015.
The ending inventory amounts to $300.
The building is being depreciated over a 30-year life, straight-line, no salvage value.
The balance in Unearned Consulting Revenue pertains to a contract sold on September 1, 2015, to provide service to a client for one year.
Office supplies on hand at year-end amount to $24.
At year-end, there are accrued salaries of $50.
Repair Service Revenue includes a contract for $120 received on July 1, 2015, for a one-year period of time.
The tax rate is 50%.
Required:
Complete the worksheet, assuming that adjusting entries are made only at December 31, 2015.

Figure APC-1 Is the Condensed Worksheet for the Amoss Company