Adjusting entries Instructions Chart of Accounts Journal Instructions Good Note Company specializes in the repair of music equipment and is owned and operated by Robin Stahl. On November 30, 2015, the end of the current year, the accountant for Good Note prepared the following trial balances: Good Note Company Trial Balances November 30, 2015 Unadjusted Debit Unadjusted Adjusted Debit 1 Balances Credit Balances Balances Adjusted Credit Balances Cash 1 Accounts Receivable Supplies 38,250.00 38,250.00 90,445.00 90,445.00 11,125.00 1,875.00 Prepaid Insurance 13,580.00 3,005.00 Equipment 290,550.00 290,530.00 Accumulated Depreciation-Equipment 94,670.00 106,350.00 Automobiles 128,930.00 128,930.00 Accumulated Depreciation-Automobiles 53,775.00 60,775.00 Accounts Payable 25.410.00 26,715.00 11 Salaries Payable 7,130.00 12 Unearned Service Fees 18,180.00 9,765,00 eBook Adjusting entries Instructions Chart of Accounts Journal Instructions 12 Unearned Service Fees 15 Robin Stahl, Capital 34 Robin Stahl, Drawing 15 Service Fees Earned 14 Salary Expense Rent Expense 18,180.00 9,765.00 316,920.00 316,920.00 74,545.00 74.545.00 732,900.00 741,515.00 $10,700.00 517,850,00 $3,600.00 $3,600.00 Supplies Expense 9,250.00 19 Depreciation Expense-Equipment 11,680.00 20 Depreciation Expense-Automobiles 7,000.00 21 Utilities Expense 11,925.00 13,230,00 22 Taxes Expense 7,860.00 7,860.00 23 Insurance Expense 10,575.00 34 Miscellaneous Expense 10,365.00 10,365.00 25 $1,241,855.00 $1,241,855.00 $1,268,970.00 $1,268,970.00 Required: Compare the unadjusted trial balance to the adjusted trial balance. Journalize the seven entries that adjusted the accounts at November 30 None of the accounts were affected by more than one adjusting entry Refer to the chart of accounts for the exact wording of the account titles CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered Instructions Chart of Accounts Journal In Chart of Accounts CHART OF ACCOUNTS Good Note Company General Ledger ASSETS 11 Cashi 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 16 Equipment 17 Accumulated Depreciation-Equipment 18 Automobiles 19 Accumulated Depreciation-Automobiles LIABILITIES 21 Accounts Payable 22 Salaries Payable 23 Unearned Service Fees REVENUE 41 Service Fees Earned EXPENSES 51 Salary Expense 52 Rent Expense 53 Supplies Expense 54 Depreciation Expense-Equipment 55 Depreciation Expense-Automobiles 56 Utilities Expense 57 Taxes Expense 58 Insurance Expense 59 Miscellaneous Expense EQUITY 31 Robin Stahl, Capital 32 Robin Stahl, Drawing 33 Dividends Adjusting entries Instructions Chart of Accounts Journal Journal Compare the unadjusted trial balance to the adjusted trial balance. Journalize the seven entries that adjusted the accounts at November 30. None of the accounts were affected by more than one adjusting entry. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered 10 11 12 14 PAGE 101 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST REF DEBIT CREDIT ASSETS LIABILITIES EQUITY Adjusting Entries