Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

12 points The unadjusted trial balance for Eco Build as December 31 Is provided on the trial balance tob. Information for adjustments Is as follows:

image text in transcribed
12 points The unadjusted trial balance for Eco Build as December 31 Is provided on the trial balance tob. Information for adjustments Is as follows: a. As of December 31, employees had comed $1,700 of unpaid and unrecorded seleries. The next payday Is January 4, at which time 92125 of calories will be paid. b. The cost of supplies still available at December 31 1: $1,900. c. The notes payable requires an Interest payment to be made every three months. The amount of unrecorded accrued Interest at December 31 Is $1,125. The next Interest payment, at an amount of $1,350, is due on January 15. d. Analysis of the uncomed member fees account shows $1,800 remaining uneamed at December 31 E. In addition to the member fees Included in the revenue account balance, the company has earned another $10,300 In unrecorded fees that will be collected on January 31. The company is also expected to collect $11000 on that same day for new fees camed In January. if. Depreciation expense for the year Is $20,600. Anquirement General Journal General Ledger Trial Balance Income 51 Owners Equity Balance Shoot Paril Closing Prepare the required adjusting entries and closing entries for Eco Build. Vine bransuchen Int new journal entry workwheat No Account Title Debit One 31 Salaries niponso 1,700 Balarion payable 700 2 Doc 31 Supplies expense 7.600 Supplin One 31 Interest couponsn 1,125 Interest payable 1,125 Onc 31 Unnamed member for 15,700 Mombar Ions camed 15.700 Doc 31 Accounts monivable 10,300 Mombar fons named 10.300 Doc 31 Depreciation expanse - Equipment 20.600 Accumulated depreciation - Equipment 20 GOD Doc 31 Member foos canned 76,00 Income summary 76 000 Onc 31 Incoma summary 48,725 Salaries expense 16 700 3 825 Supplies expone Depmcintion exponon - Equipment One 31 Income summary N. Miller, Capital 10 Doc 31 IN. Miller, Capital N. Mlor, Withdrawals 26 000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Accounting Principles Volume I

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

16th Canadian edition

978-1260305821

More Books

Students also viewed these Accounting questions