Question
1D. A Companys trial balance after one year appears below. A Company Trial Balance June 30, 2021 Cash 9,750 Accounts Receivable 8,127 Office Supplies 1,146
1D. A Companys trial balance after one year appears below. A Company Trial Balance June 30, 2021 Cash 9,750 Accounts Receivable 8,127 Office Supplies 1,146 Office Equipment 11,265 Accounts Payable 3,888 Unearned Services 15,000 Common Stock 12,000 Dividends 18,000 Earned Services 54,525 Rent Expense 5,400 Utilities Expense 2,151 Wages Expense 29,574 85,413 85,413 1. Open T accounts for the accounts in the trial balance plus extra necessary to do the adjusting entries. 2. Determine the adjusting entries and post them directly to the T accounts. a. Inventory of unused office supplies, $ 174. b. Estimated depreciation on office equipment, $ 1,800. c. Services rendered during the month but not yet billed $ 2,175. d. Services rendered that should be applied against unearned services, $ 9,450 3. Prepare an Adjusted Trial Balance, an Income Statement, a Statement of Retained Earnings and a Balance Sheet
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