The first 9 months of the year have concluded for Suarez Digital Services. Sid Suarez wants to make the necessary adjustments to his accounts to prepare accurate financial statements for the last 6 months ending on March 31, 202Y.
Assignment
To prepare these adjustments, use the trial balance in Figure 11.17 and the following inventory that Sid took at the end of March: 

Supplies
15 dozen ¼-inch screws at a cost of $15 a dozen
8 dozen ½-inch screws at a cost of $10 a dozen4 feet of coaxial cable at a cost of $8 per foot

Merchandise Inventory
A physical inventory taken on March 31 indicated that Merchandise Inventory remaining in stock was valued at $200.
Depreciation of Computer Equipment
Computer depreciates at $35 a month; purchased July 5.
Computer workstations depreciate at $35 per month; purchased September 17. 

Shop benches depreciate at $30 per month; purchased November 5.
Depreciation of Office Equipment
Office equipment depreciates at $25 per month; purchased July 17.
Fax machine depreciates at $15 per month; purchased November 20.
Remember: If any long-term asset is purchased in the first 15 days of the month,
Suarez will charge depreciation for the full month. If an asset is purchased later than the 15th, he will not charge depreciation in the month it was purchased.
Expiration of Prepaid Rent
Six months’ worth of rent at a rental rate of $500 per month has expired.
Complete the 10-column worksheet for the 6 months ended March 31, 202Y.

Transcribed Image Text:

Account Titles SUAREZ DIGITAL SERVICES TRIAL BALANCE MARCH 31, 202Y Cash Petty Cash Accounts Receivable Merchandise Inventory Prepaid Rent Supplies Computer Shop Equipment Accumu ated Depreciation, C. S. Equipment Office Equipment Accumulated Depreciation, Office Equipment Accounts Payable S. Suarez, Capital S. Suarez, Withdrawals Service Revenue Sales Sales Returns and Allowances Sales Discounts Cost of Goods Sold Advertising Expense Rent Expense Utilities Expense Phone Expense Supplies Expense Insurance Expense Postage Expense Miscellaneous Expense Wage Expense Payroll Tax Expense Totals Trial Balance Dr. 11576 29 130000 1237000 555500 350000 61200 486000 217500 |9|1|5|იი 46000 24300 722500 15500 4500 4000 1500 242500 Cr. 10500 5000 338000 1661700 2090000 1168000 26071 5273200 5273200