Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Am I doing this right? If not can someone please explain what im doing wrong. Jax Company Adjusted Trial Balance December 31, 2018 119,500 23,000

Am I doing this right? If not can someone please explain what im doing wrong. image text in transcribed
image text in transcribed
image text in transcribed
Jax Company Adjusted Trial Balance December 31, 2018 119,500 23,000 11,000 28,000 107,500 20,000 74,000 35,000 7,500 14,400 6,000 55,000 40,000 52,100 Cash Accounts Receivable Supplies Prepaid Insurance Inventory Vehicle Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Earnings (1/1/2018) Dividends Service Revenue Repair Expense Delivery Expense Depreciation Expense Rent Expense Insurance Expense Wages Expense Supplies Expense Interest Expense Income Tax Expense Total 5,000 482,500 12,000 38,000 16,000 50,000 12,000 131,000 12,000 3,500 30,000 692,500 692,500 Darby Company Unadjusted Trial Balance December 31, 2018 Cash Accounts Receivable Supplies Prepaid Insurance Inventory Vehicle Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Earnings (1/1/2018) Dividends Service Revenue Repair Expense Delivery Expense Depreciation Expense Rent Expense Insurance Expense Wages Expense Supplies Expense Interest Expense Income Tax Expense Total 132,000 27,500 7,000 12.000 106,000 22,000 76,000 45,000 8,000 17.400 7,000 35,000 52,000 65,100 5,000 481,000 11,000 41,000 5,000 58,000 12,000 145,000 12,000 4,000 35,000 710,500 710,500 of your D2L quiz (the unadjusted ce might be a debit, a credit, or zero balance). Now you are ready to post your adjusting journal entries from Part 1 to the corresponding T-accounts and calculate adjusted balances. Insurance Expense Adi Bal 12.000 Prepaid Insurance Depreciation Expanse Adj Boula.co Adi Bai 6.000 31-Dec 4,000 31-Dec 4.000 Bal 16.000 Bol spoo BO 0.000 31-Dec 15.000 Accumulated Depreciation Wear Expense Wages parable Adi Bal 45.000 31-Dec 15.000 Aareal 7000 31-Dec Adi Bal 14504 Ral 60.000 31-Dec 8000 Dnearned Revenue Service Revende LOGOs Receivable Supplies Exbense Supplies Page

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

Students also viewed these Accounting questions

Question

What must a person do to apply?

Answered: 1 week ago