Adjusting entries from trial balances Obj. 6 The unadjusted and adjusted trial balances for American Leaf Company
Question:
Adjusting entries from trial balances Obj. 6 The unadjusted and adjusted trial balances for American Leaf Company on October 31, 20Y2, follow:
American Leaf Company Trial Balances October 31, 20Y2 Unadjusted Adjusted Debit Balances Credit Balances Debit Balances Credit Balances Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 16 Accounts Receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 44 Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 10 Prepaid Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 8 Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 26 Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 40 Accumulated Depreciation—Equipment . . . . . . . . . . 8 12 Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 26 Wages Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 2 Common Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 20 Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72 72 Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 8 Fees Earned . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74 80 Wages Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 26 Rent Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 8 Insurance Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 12 Utilities Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 4 Depreciation Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 4 Supplies Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 2 Miscellaneous Expense . . . . . . . . . . . . . . . . . . . . . . . . . . 4 4 200 200 212 212 Journalize the five entries that adjusted the accounts at October 31, 20Y2. None of the accounts were affected by more than one adjusting entry.AppendixLO1
Step by Step Answer:
Corporate Financial Accounting
ISBN: 9781337398176
15th Edition
Authors: Carl Warren, Jefferson Jones