Consider the data in Figure 5.23 for Daffy?s Dance Studio: Trial Balance for Daffy?s Dance Studio Adjustment
Question:
Consider the data in Figure 5.23 for Daffy?s Dance Studio:
Trial Balance for Daffy?s Dance Studio
Adjustment Data
1. Insurance expired, $100.
2. Dance supplies on hand, $200.
3. Depreciation on dance equipment, $2,500.
4. Salaries earned by employees but not to be paid until December,?$500.
Your task is to do the following:
1. Prepare a worksheet.
2. Journalize adjusting and closing entries.
DAFFY'S DANCE STUDIO TRIAL BALANCE NOVEMBER 30, 201X Account Titles Dr. Cr. 42 50000 400000 110000 Cash Accounts Receivable Prepaid Insurance Dance Supplies 200000 Dance Equipment 23 00000 Accumulated Depreciation, Dance Equipment Accounts Payable 860000 30 00000 D. Dominico, Capital 14 70000 이이6| 22 4 0000 D. Dominico, Withdrawals 90000 Dance Fees Earned Salaries Expense 140000 Telephone Expense 60000 Advertising Expense 20000 Totals 75 70000 75 70000
Step by Step Answer:
1 2 DAFFYS DANCE STUDIO GENERAL JOURNALPAGE 3 Date 201X Account Titles and Description PR Dr Cr Adju...View the full answer
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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