Exercise 4-3 (Part Level Submission) The adjusted trial balance columns of the worksheet for Albanese Company are as follows. No common stock was issued during April ALBANESE COMPANY Worksheet (partial) For the Month Ended April 30, 2014 Adjusted Trial Balance Account Titles Dr 7,442 7,840 2,280 23,000 Cash Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation-Equip Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Rent Expense Depreciation Expense Interest Expense Interest Payable Totals 4,800 5,700 5,672 22,000 4,000 3,000 12,590 9,840 760 600 57 57 54,819 54,819 Solution Answer: .

1. Exercise 4-3 (Part Level Submission) The adjusted trial balance columns of the worksheet for
Albanese Company are as follows. No common stock was issued during April ALBANESE
COMPANY Worksheet (partial) For the Month Ended April 30, 2014 Adjusted Trial Balance
Account Titles Dr 7,442 7,840 2,280 23,000 Cash Accounts Receivable Prepaid Rent Equipment
Accumulated Depreciation-Equip Notes Payable Accounts Payable Common Stock Retained
Earnings Dividends Service Revenue Salaries and Wages Expense Rent Expense Depreciation
Expense Interest Expense Interest Payable Totals 4,800 5,700 5,672 22,000 4,000 3,000 12,590
9,840 760 600 57 57 54,819 54,819
Solution
Answer:
Particulars description Amount ($)
Current Assets
Cash 7442
Accounts receivable 7840
Prepaid rent 2280
Total current Asset 17562
Non current Asset
Equipment 23000
Less: Accumulated dep 4800
Total Non current asset 18200
Total 35762
Current Liability
Accounts payable 5672
Interest payable 57
Total current liability 5729
Non current liability
Notes payable 5700
Common stock 22000

2. Retained earnings less dividend 1000
Net income 1333
Total non current liability 30033
Total 35762