The unadjusted trial balance for Sheffield Corp. is shown below. SHEFFIELD CORP. Trial Balance October 31,...
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The unadjusted trial balance for Sheffield Corp. is shown below. SHEFFIELD CORP. Trial Balance October 31, 2022 Debit Credit Cash $15,220 Supplies 2,960 Prepaid Insurance 690 Equipment 5,290 Notes Payable $5,290 Accounts Payable 2,270 Unearned Service Revenue 1,990 Common Stock 11,040 Retained Earnings Dividends 560 Service Revenue 9.300 Salaries and Wages Expense Rent Expense 1,170 $29,890 $29,890 Assume the following adjustment data. 1. Supplies on hand at October 31 total $520. Expired insurance for the month is $115. Depreciation for the month is $135. 2. 3. As of October 31. services worth $870 related to the previously recorded unearned revenue had been performed. 5. Services performed but unbilled (and no receivable has been recorded) at October 11 are $290, Interest expense accrued at October 31is $85. 7. Acerued salaries at October 31 are $1,520. Prepare the adjusting entries for the items above. (If no entry is required, select "No Entry" for the account titles and ent the amounts. Credit account titles ore automatically indented when the amount is entered. Do not indent manually.) 4. Prepare the adjusting entries for the items above. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1. Oct. 31 Supplies Expense 2,440 Supplies Oct. 31 Insurance Expense 115 Prepaid Insurance 3. Oct. 31 Depreciation Expense 135 Depreclation Expense 4. Oct. 31 Unearned Rent Revenue 870 Service Revenue 5. Oct. 31 Accounts Recelvable 290 2. 85 6. Oct. 31 Interest Expense Interest Expense 1,520 7. Oct. 31 Salaries and Wages Expense Salaries and Wages Payable The unadjusted trial balance for Sheffield Corp. is shown below. SHEFFIELD CORP. Trial Balance October 31, 2022 Debit Credit Cash $15,220 Supplies 2,960 Prepaid Insurance 690 Equipment 5,290 Notes Payable $5,290 Accounts Payable 2,270 Unearned Service Revenue 1,990 Common Stock 11,040 Retained Earnings Dividends 560 Service Revenue 9.300 Salaries and Wages Expense Rent Expense 1,170 $29,890 $29,890 Assume the following adjustment data. 1. Supplies on hand at October 31 total $520. Expired insurance for the month is $115. Depreciation for the month is $135. 2. 3. As of October 31. services worth $870 related to the previously recorded unearned revenue had been performed. 5. Services performed but unbilled (and no receivable has been recorded) at October 11 are $290, Interest expense accrued at October 31is $85. 7. Acerued salaries at October 31 are $1,520. Prepare the adjusting entries for the items above. (If no entry is required, select "No Entry" for the account titles and ent the amounts. Credit account titles ore automatically indented when the amount is entered. Do not indent manually.) 4. Prepare the adjusting entries for the items above. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1. Oct. 31 Supplies Expense 2,440 Supplies Oct. 31 Insurance Expense 115 Prepaid Insurance 3. Oct. 31 Depreciation Expense 135 Depreclation Expense 4. Oct. 31 Unearned Rent Revenue 870 Service Revenue 5. Oct. 31 Accounts Recelvable 290 2. 85 6. Oct. 31 Interest Expense Interest Expense 1,520 7. Oct. 31 Salaries and Wages Expense Salaries and Wages Payable
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Adjusting Entries Date Account title and Explanation Debit Cred... View the full answer
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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