Alert Security Services Co. offers security services to business clients. The trial balance for Alert Security Services
Question:
Alert Security Services Co. offers security services to business clients. The trial balance for Alert Security Services has been prepared on the following end-of-period spreadsheet for the year ended October 31, 20Y3:
The data for year-end adjustments are as follows:
a. Fees earned, but not yet billed, $13.
b. Supplies on hand, $4.
c. Insurance premiums expired, $10.
d. Depreciation expense, $3.
e. Wages accrued, but not paid, $1.
Enter the adjustment data, and place the balances in the Adjusted Trial Balance columns.
A C D F 1 Alert Security Services Co. End-of-Period Spreadsheet For the Year Ended October 31, 20Y3 2 3 4 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. 8 Cash 9 Accounts Receivable 10 Supplies 11 Prepaid Insurance 12 Land 13 Equipment 14 Accum. Depr.-Equipment 15 Accounts Payable 16 Wages Payable 17 Common Stock 18 Retained Earnings 19 Dividends 20 Fees Earned 12 90 12 190 50 4 36 50 210 200 21 Wages Expense 22 Rent Expense 23 Insurance Expense 24 Utiliies Expense 25 Supplies Expense 26 Depreciation Expense-Equip. 27 Miscellaneous Expense 110 12 6 28 500 500 29 67
Step by Step Answer:
Account Title Cash Accounts Receivable Supplies Prepaid Insurance Land ...View the full answer
Related Video
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
Students also viewed these Business questions
-
Plants require large quantities of macronutrients (N, P, K, Ca, Mg, S). Of these macronutrients, deficiency symptoms of nitrogen, phosphorus, and potassium can be visually detected on plants grown...
-
The adjusted trial balance for Impressions Dance School has been provided for the year ended September 30, 2014. The new bookkeeper alphabetized the accounts. The notes payable plus interest are due...
-
A company fails to recognize revenue earned but not yet received. Which of the following accounts are involved in the adjusting entry? (a) Asset, (b) Liability, (c) Revenue, or (d) Expense? For the...
-
Suppose you are a money manager of a $5 million investment fund. The fund is invested in four funds with the following investments and betas: Stock A B Shares 100,000 100,000 75,000 20,000 C D Price...
-
Explain the nature of hunger in the world today. How much should we worry about hunger increasing? Why?
-
A distillation column at \(1.0 \mathrm{~atm}\) with a total condenser and a total reboiler is separating ethanol from water. Reflux is returned as a saturated liquid, and boilup is returned as a...
-
Discuss the relationship between investment risk and the expected rate of return on an investment. Explain why accounting information is useful in evaluating the risk/return trade-off inherent in all...
-
1. Is anything unique about Chriss idea? Explain. 2. What is the first thing he should do to follow up on his idea? Explain. 3. When this is done, what else should Chris do? Outline a general course...
-
Prepare ledger accounts (in balance column format) and post the journal entries from requirement 1 to them. for 101 cash and 106 accounts receivable
-
Hugh Donovan is chief financial officer (CFO) of Light Speed Connections (LSC), a rapidly growing U.S. technology company with a traditional defined-benefit pension plan. Because of LSC's young...
-
Alert Security Services Co. offers security services to business clients. Complete the following end-of-period spreadsheet for Alert Security Services Co.: B C D E A 1 Alert Security Services Co....
-
In Exhibit 15, Kelly Consulting reported accrual net income of $18,300. Under the cash basis of accounting, Kelly Consulting would have reported net income of $15,000. a. Why are the accrual- and...
-
Johnstone Inc. began operations in January 2011 and reported the following results for each of its 3 years of operations. 2011 $260,000 net loss 2012 $40,000 net loss 2013 $700,000 net income At...
-
For the function f(x)=ax^3 +bx^2-5x +9, determine the values of a and b so that f(-1)=12 and f'(-1)=3 Determine the equations of two lines that pass through the point (-4,-5) and are tangent to the...
-
The energy density of gasoline for an ICE car is 43 MJ/kg. The energy density of battery used to power a similar electric car is 3 MJ/kg. Assume that the energy consumption of either the electric or...
-
Don Barco has recently started a new business which deals in a single product. The first three months of his year of trading showed the following purchases and sales: Calculate value of inventory as...
-
Mr. Jones bought some land in 2014 in a Prior Appropriation State. Mrs. Green bought land next door in 2015 and built a house. Mr. Jones finished building his house in January 2016 and installed a...
-
7. Explore industry standard evaluation and analytical tools in formulating possible technical solutions in your design process - P4. 8. Use appropriate design techniques to produce a possible design...
-
Shari Kay owns and operates Perfect Petals, a successful florist shop in Bloomington, Indiana. Shari estimates that her variable costs are $0.25 per sales dollar (i.e., variable costs represent 25%...
-
Compile data on consumption and expenditures for the following categories in 30 different countries: (1) food and beverages, (2) clothing and footwear, (3) housing and home operations, (4) household...
-
a. How does the rate earned on total assets differ from the rate earned on stockholders equity? b. Which ratio is normally higher? Explain.
-
a. Why is the rate earned on stockholders equity by a thriving business ordinarily higher than the rate earned on total assets? b. Should the rate earned on common stockholders equity normally be...
-
Describe how the following business transactions affect the three elements of the accounting equation. a. Received cash for services performed. b. Paid for utilities used in the business. c. Borrowed...
-
Consider the case of Kuhn Co. Kuhn Co. is considering a new project that will require an initial investment of $45 million. It has a target capital structure of 35% debt, 2% preferred stock, and 63%...
-
EXCEL ASSIGNMENT EXPORT VERSUS INVEST DECISION Palo Alto Electronics (PAE) of the US exports 360,000 sets of routers per year to the Philippines. It sells them for the equivalent of $58 per set....
-
FINC 423 Advanced Corporate Finance Fall 2023 2022 Book Value Balance Sheet for Jordan Inc Cash Accounts Recievable Inventories Current Assets Fixed Assets Total Assets Notes Payable Accounts...
Study smarter with the SolutionInn App