Question
3-2 The Harris Company unadjusted trial balance appears as follows: Harris Company Trial Balance December 31, 20XX Cash 25,000 Accounts Receivable 40,000 Prepaid Rent 5,000
3-2 The Harris Company unadjusted trial balance appears as follows: Harris Company Trial Balance December 31, 20XX Cash 25,000 Accounts Receivable 40,000 Prepaid Rent 5,000 Prepaid Insurance 1,900 Office Supplies 650 Office Equipment 2,850 Accumulated Depreciation, Office Equipment 400 Accounts Payable 12,000 Unearned Service Revenue 1,500 J. Harris, Capital 29,000 J. Harris, Withdrawal 200 Service Revenue Salaries Expense Rent Expense Utilities Expense 75,000 32,100 7,000 3.200 117,900 117,900 a) There is $250 of office supplies on hand. b) Insurance in the amount of $1,200 has expired. c) All of the unearned revenue, $1,500, has been earned. d) Depreciation expense for the office equipment is $200. Required: 1. Record the adjusting entries in the general journal. 2. Open the ledger accounts as indicated by the trial balance and those necessary to process the adjusting entries. Cash - 110, Accounts Receivable - 120, Prepaid Rent 130, Prepaid Insurance - 140, Office Supplies - 150, Office Equipment - 160, Accumulated Depreciation, Office Equipment - 161, Accounts Payable - 210, Unearned Service Revenue - 220, J. Harris, Capital - 310, J. Harris, Withdrawals - 320, Service Revenue - 410, Salaries Expense-510, Rent Expense -520, Utilities Expense - 530, Office Supplies Expense-540, Insurance Expense- 560, Depreciation Expense, Office Equipment - 570. 3. Record the balances of the trial balance in the general ledger. 4. Post the adjusting entries to the general ledger. 5. Prepare an adjusted trial balance. 6. Prepare an income statement, statement of owner's equity and balance sheet for 12/31/XX
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