Answered step by step
Verified Expert Solution
Question
1 Approved Answer
(A) Compare the adjusted and unadjusted trial balances and prepare the eight journal entries that were required to adjust the accounts. (b) Prepare the journal
- (A) Compare the adjusted and unadjusted trial balances and prepare the eight journal entries that were required to adjust the accounts. (b) Prepare the journal entries that were required to close temporary accounts. Abay General Trading Trial Balance Sene 30, 1994 Un adjusted Adjusted Cash 12,825.00 12,825.00 Supplies 8,950.00 3,635.00 Prepaid rent 19,500.00 1,500.00 Prepaid insurance 3,750.00 1,250.00 Equipment 92,150.00 92,150.00 Accumulated depreciation equipment 53,480.00 66,270.00 Automobile 56,500.00 56,500.00 Accumulated depreciation automobile 28,250.00 36,900.00 Accounts payable 8,310.00 8,730.00 Salary payable 3,400.00 Tax Payable 1,225.00 Ato Abay capital 41,245.00 41,245.00 Ato Abay drawing 18,600.00 18,600.00 Service income 261,200.00 261,200.00 Salary Expense 172,300 175,700.00 Rent Expense 18,000.00 Supplies Expense 5,315.00 Depreciation Expense Equipment 12,790.00 Depreciation Expense Automobile 8,650.00 Utilities Expense 4,700.00 5,120.00 Taxes Expense 1,500 2,725.00 Insurance Expense 2,500.00 Miscellaneous Expense 1,710.00 ____ 1,710.00 ____ Total 392,485.00 392,487.00 418,970.00 418,970.00
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