Answered step by step
Verified Expert Solution
Link Copied!

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

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

Step: 3

blur-text-image

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

Accounting Information Systems Controls And Processes

Authors: Leslie Turner, Andrea B. Weickgenannt

1st Edition

0471479519, 9780471479512

More Books

Students also viewed these Accounting questions

Question

Speak clearly and distinctly with moderate energy

Answered: 1 week ago

Question

Get married, do not wait for me

Answered: 1 week ago