Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1 5 Assignment two.pdf The trial balance columns of the worksheet for Lenny Company at June 30, 2014, are as follows. Worksheet for the
1 5 Assignment two.pdf The trial balance columns of the worksheet for Lenny Company at June 30, 2014, are as follows. Worksheet for the Month ended June 30, 2014 Trial Balance Account Titles Dr. Cr. Cash 3,350 Accounts Receivable 2,000 Supplies 1,450 Prepaid Insurance 1,500 Equipment 4,500 Accounts Payable 1,700 Unearned Service Revenue 600 Notes Payable 2,000 Owner's Capital 8,000 Service Revenue 2,100 Salaries and Wages Expense 1,200 Miscellaneous Expense 400 14,400 14,400 Other data: 1. A physical count reveals $450 of supplies on hand. 2. 1/3 of the unearned revenue was earned. 3. Services provided but unrecorded totaled $700. 4. Depreciation on the equipment for the month is $450. 5. $200 of the insurance was expired during the month. 6. Accrued but unrecorded salaries and wages during the month is $300. Instructions: A. Prepare adjusting entries for the items described above (don't write explainations). B. Post those adjusting entries using T-account form. C. Prepare adjusted trail balance. Assignment 2 1
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started