Figure APC-2 is the condensed worksheet for the Christopher Company as of December 31, 2014.
Additional Information:
Prepaid Insurance is for a two-year fire insurance policy dated July 1, 2014.
The ending inventory amounts to $76.
The building is being depreciated over a ten-year life, straight-line, no salvage value.
The balance in Unearned Repair Service Revenue pertains to a contract sold on November 1, 2014, to provide service to a client for one year.
Office supplies on hand at year-end amount to $14.
At year-end, there are accrued salaries of $6.
Consulting Revenue includes a contract for $60 received on October 1, 2014, 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.

Question

Figure APC-2 is the condensed worksheet for the Christopher Company as of December 31, 2014.
Additional Information:
Prepaid Insurance is for a two-year fire insurance policy dated July 1, 2014.
The ending inventory amounts to $76.
The building is being depreciated over a ten-year life, straight-line, no salvage value.
The balance in Unearned Repair Service Revenue pertains to a contract sold on November 1, 2014, to provide service to a client for one year.
Office supplies on hand at year-end amount to $14.
At year-end, there are accrued salaries of $6.
Consulting Revenue includes a contract for $60 received on October 1, 2014, 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.

Quizplus · Accepted Answer

The Answer of Figure APC-2 is the condensed worksheet for the Christopher Company as of December 31, 2014.
Additional Information:
Prepaid Insurance is for a two-year fire insurance policy dated July 1, 2014.
The ending inventory amounts to $76.
The building is being depreciated over a ten-year life, straight-line, no salvage value.
The balance in Unearned Repair Service Revenue pertains to a contract sold on November 1, 2014, to provide service to a client for one year.
Office supplies on hand at year-end amount to $14.
At year-end, there are accrued salaries of $6.
Consulting Revenue includes a contract for $60 received on October 1, 2014, 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.

Figure APC-2 Is the Condensed Worksheet for the Christopher Company