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Accounting homework help Can anybody help me with this? I'm having the most trouble with the journal entries. The unadjusted trial balance that you prepared
Accounting homework help
Can anybody help me with this? I'm having the most trouble with the journal entries.
The unadjusted trial balance that you prepared forPSMusicat the end ofChapter 2should appear as follows:
The data needed to determine adjustments are as follows:
- During July,PSMusicprovided 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, 2016, transaction at the end ofChapter 2.
- Supplies on hand at July 31, $275.
- The balance of the prepaid insurance account relates to the July 1, 2016, transaction at the end ofChapter 2.
- Depreciation of the office equipment is $50.
- The balance of the unearned revenue account relates to the contract betweenPSMusicand KXMD, described in the July 3, 2016, transaction at the end ofChapter 2.
- Accrued wages as of July 31, 2016, were $140.
Instructions
Prepare adjusting journal entries. You will need the following additional accounts:- 18 Accumulated DepreciationOffice Equipment
- 22 Wages Payable
- 57 Insurance Expense
- 58 Depreciation Expense
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