Make journal entries for the adjustments that would complete the preparation of the adjusted trial balance in Exercise 3-16. Date the entries and include explanations.

Transcribed Image Text:

SMITH ADVISORY SERVICES Preparation of Adjusted Trial Balance May 31, 2014 Adjusted Trial Balance Unadjusted Trial Balance Adjustments Account Title Debit Credit Debit Credit Debit Credit Cash 27,000 27,000 Accounts receivable 57,000 62,600 Supplies 8,000 6,400 160,000 160,000 Office furniture Accumulated amortization 108,000 112,000 Salaries payable 7,000 12,500 Unearned revenue 6,000 A. Smith, capital 141,000 141,000 A. Smith, withdrawals 65,000 65,000 Service revenue 108,000 120,100 Salaries expense 34,500 41,500 Rent expense 18,000 18,000 Amortization 4,000 expense 1,600 Supplies expense 369,500 369,500 386,100 386,100