=+PR 3-4A Adjusting entries objs. 2, 3, 4 Jacksonville Financial Services Co., which specializes in appliance repair

Question:

=+PR 3-4A Adjusting entries objs. 2, 3, 4 Jacksonville Financial Services Co., which specializes in appliance repair services, is owned and operated by Cindy Latty. Jacksonville Financial Services Co.’s accounting clerk prepared the unadjusted trial balance at December 31, 2010, shown below.

Jacksonville Financial Services Co.

Unadjusted Trial Balance December 31, 2010 Debit Credit Balances Balances Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,200 Accounts Receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34,750 Prepaid Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000 Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,725 Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50,000 Building . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80,750 Accumulated Depreciation—Building . . . . . . . . . . . . . . . . . . . . . . . . 37,850 Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45,000 Accumulated Depreciation—Equipment . . . . . . . . . . . . . . . . . . . . . . 17,650 Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,750 Unearned Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,600 Cindy Latty, Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 103,550 Cindy Latty, Drawing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,000 Fees Earned . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 158,600 Salaries and Wages Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56,850 Utilities Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,100 Advertising Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,500 Repairs Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,100 Miscellaneous Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,025 _______ _______ 325,000 325,000 _______ _______ _______ _______

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