ACC 101INTRO ACCOUNTING

Part II Journalize & Post the AdjustingEntries

Prepare Adjusted Trial Balance

The Trial Balance and information for year -end (Dec 31, 2018) adjustments for Fenway Sports Company are as follows:

Account Debit Credit

Cash 10,000

Accounts Receivable 28,000

Supplies 400

Prepaid Insurance 2,000

Baseball Equipment 25,000

Accumulated Depr.-Baseball Equipment

Accounts Payable 8,000

Wages Payable 10,200

Henry Johns, Capital 42,400

Henry Johns, Withdrawals 2,400

Service Revenue 38,000

Wages Expense 14,000

Utilities Expense 5,800

Insurance Expense

Depreciation Expense

Supplies Expense

Rent Expense 11,000

Total 98,600 98,600

Adjustments

a)Supplies on hand at Dec 31 amounted to $50.

b)The baseball equipment costing $25,000 had an estimated useful life of 5 years with a residual value of $5,000

c)Insurance Expired, $600

d)Wages earned by employees, but not yet paid amounted to $1300