Below is an alphabetical listing of the accounts in the general ledger of Clay and Ogletree, LLP, at

Below is an alphabetical listing of the accounts in the general ledger of Clay and Ogletree, LLP, at the partnership s fiscal year end, September 30, 2014. Adjusting entries for the year have been posted and included in these balances. Accounts payable……………………………………..$ 21,500 Accounts receivable……………………………………105,000 Accumulated depreciation-equipment………………..12,000 Cash…………………………………………………….13,500 Depreciation expense……………………………………12,000 Equipment………………………………………………60,000 Fees earned……………………………………………515,000 G. Clay, capital…………………………………………75,000 G. Clay, drawings……………………………………..150,000 Insurance expense………………………………………18,500 Interest expense………………………………………….5,000 M. Ogletree, capital…………………………………….37,500 M. Ogletree, drawings…………………………………100,000 Note payable……………………………………………22,500 Prepaid insurance…………………………………………3,500 Property tax expense……………………………………15,000 Salaries expense……………………………………….225,000 Unearned revenue…………………………….

 

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