Account No. Debit Credit Balances Balances 9,945 2,750 1,020 2,700 7,500 8,350 7,200 9,000 Cash ...... Accounts Receivable...... Supplies........... Prepaid Insurance ....... Office Equipment .... Accounts Payable ....... Unearned Revenue...... Peyton Smith, Capital ....... Peyton Smith, Drawing .... Fees Earned.......... Wages Expense ..... Office Rent Expense..... Equipment Rent Expense.... Utilities Expense ........... Music Expense ...... . Advertising Expense............ Supplies Expense. Miscellaneous Expense.... 1,750 16,200 2,800 2,550 1,375 1,215 3.610 1,500 180 1,855 40,750 56 40,750 The data needed to determine adjustments are as follows: During July, PS Music provided guest disc jockeys for KXMD for a total of 115 hours. For information on the amount of the accrued revenue to be billed to KXMD, see the contract described in the July 3 transaction at the end of Chapter 2. Supplies on hand at July 31, $275. The balance of the prepaid insurance account relates to the July 1 transaction in Chapter 2 We've updated our read aloud featured Give it a try here Depreciation of the office equipment is $50. Aa 0 B 1,215 Utilities Expense .. Music Expense ........... Advertising Expense........... Supplies Expense............. Miscellaneous Expense ........ 3,610 1,500 180 1,855 40,750 40,750 The data needed to determine adjustments are as follows: . During July, PS Music provided guest disc jockeys for KXMD for a total of 115 hours. For information on the amount of the accrued revenue to be billed to KXMD, see the contract described in the July 3 transaction at the end of Chapter 2. Supplies on hand at July 31, $275. The balance of the prepaid insurance account relates to the July 1 transaction in Chapter 2 Depreciation of the office equipment is $50. The balance of the unearned revenue account relates to the contract between PS Music and KXMD, described in the July 3 transaction in Chapter 2. Accrued wages as of July 31 were $140. Instructions 1. Prepare adjusting journal entries. You will need the following additional accounts: 18 Accumulated Depreciation-Office Equipment 22 Wages Payable 57 Insurance Expense 58 Depreciation Expense 2. Post the adjusting entries, inserting balances in the accounts affected. 3. Prepare an adjusted trial balance. We've updated our read aloud featurel Glve it a try here. 8 Aa To July 21. Paid $620 to Upload Music for use of its current music demos in making vari- ous music sets. 22. Paid $800 to a local radio station to advertise the services of PS Music twice daily for the remainder of July. 23. Served as disc jockey for a party for $2,500. Received $750, with the remainder due August 4, 2019. 27. Paid electric bill, $915. 28. Paid wages of $1,200 to receptionist and part-time assistant. 29. Paid miscellaneous expenses, $540. 30. Served as a disc jockey for a charity ball for $1,500. Received $500, with the remainder due on August 9, 2019. 31. Received $3,000 for serving as a disc jockey for a party. 31. Paid $1,400 royalties (music expense) to National Music Clearing for use of various artists' music during July 31. Withdrew $1,250 cash from PS Music for personal use. PS Music's chart of accounts and the balance of accounts as of July 1, 2019 (all normal balances), are as follows: 11 Cash $3,920 41 Fees Earned $6,200 12 Accounts Receivable 1,000 50 Wages Expense 14 Supplies 170 51 Office Rent Expense 15 Prepaid Insurance 52 Equipment Rent Expense 675 17 Office Equipment 53 Utilities Expense 300 21 Accounts Payable 250 54 Music Expense 1,590 23 Unearned Revenue 55 Advertising Expense 500 31 Peyton Smith, Capital 4,000 56 Supplies Expense 32 Peyton Smith, Drawing 500 59 Miscellaneous Expense 415 400 800 180 lumn: $40,750 NCH 4 bra General Ledger conoce W CH2 brand 6947145.pa Tie transactions completed by PS Music during June 2019 were described at the end of Chapter 1. The following transactions were completed during July, the second month of the business's operations: July 1. Peyton Smith made an additional investment in PS Music by depositing $5,000 in PS Music's checking account. 1. Instead of continuing to share office space with a local real estate agency, Peyton decided to rent office space near a local music store. Paid rent for July $1,750. 1. Paid a premium of $2,700 for a comprehensive insurance policy covering liabil ity, theft, and fire. The policy covers a one-year period. 2. Received $1,000 cash from customers on account. 3. On behalf of PS Music, Peyton signed a contract with a local radio station, KXMD, to provide guest spots for the next three months. The contract requires PS Music to provide a guest disc jockey for 80 hours per month for a monthly fee of $3,600. Any additional hours beyond 80 will be billed to KXMD at $10 per hour. In accordance with the contract, Peyton received $7.200 from KXMD as an advance payment for the first two months. 3. Paid $250 to creditors on account. 4. Paid an attorney $900 for reviewing the July 3 contract with KXMD. (Record as Miscellaneous Expense.) 5. Purchased office equipment on account from Office Mart, $7,500. 8. Paid for a newspaper advertisement, $200. 11. Received $1,000 for serving as a disc jockey for a party 13. Paid $700 to a local audio electronics store for rental of digital recording equip- ment We've updated our read aloud featurel 14. Paid wages of $1,200 to receptionist and part-time assistant Give a try here tarihe full verse Profil Perunder - 6 Aa To O