The Following Is the Adjusted Trial Balance from the Worksheet

question 149

Essay

The following is the adjusted trial balance from the worksheet for Tuttle Photography,Inc.
Tuttle Photography
Worksheet
For the Year Ended December 31,2013
$\begin{array}{|l|r|c|}\hline\text { Account } &{\text { Debit }} &\text { Credit }\\\hline \text { Cash } & \$ 15,000 \\\hline \text { Accounts receivable } & 30,000 \\\hline \text { Prepaid insurance } & 7,500 \\\hline \text { Office supplies } & 3,200 \\\hline \text { Land } & 40,000 \\\hline \text { Building } & 160,000 \\\hline \text { Accumulated depreciation } & & \$ 12,000 \\\hline \text { Equipment } & 75,000 &\\\hline \text { Accumulated depreciation } & & 8,500 \\\hline \text { Accounts payable } & & 12,000 \\\hline \text { Salaries payable } & & 2,000 \\\hline \text { Unearned service revenue } & & 25,000 \\\hline \text { Mortgage payable } & & 100,000 \\\hline \text { R. Tuttle, capital } & & 21,290 \\\hline \text { R. Tuttle, drawing } & 23,000 \\\hline \text { Service revenue } & \\\hline \text { Salaries expense } & 61,000 \\\hline \text { Depreciation expense } & 6,150 \\\hline \text { Supplies expense } & 14,040 \\\text { Innsurance expense } & 14,000 \\\hline \text { Utilities expense } & 20,900 \\\hline & \$ 469,790 & \$ 469,790 \\\hline\end{array}$ Using the information from the worksheet above,prepare a statement of owner's equity for Tuttle Photography.

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Definitions:

Linear

When used in comparing electric devices or quantities, signifies that one unit is equal to another.

RMS

Root Mean Square, a statistical measure of the magnitude of a varying quantity, commonly used to calculate the effective value of an alternating current.

Peak

The highest point or maximum value in a cycle, often used in the context of waves or signals.

V

Typically represents voltage in electrical contexts, indicating the electrical potential difference between two points.