Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assignment 10 marks Adjusting Entries The following balance appeared in Tobacco Industries trial balance at 30/04/2019 Cr Details Cash a/c receivable Prepaid rent Supplies Equipment

image text in transcribed
Assignment 10 marks Adjusting Entries The following balance appeared in Tobacco Industries trial balance at 30/04/2019 Cr Details Cash a/c receivable Prepaid rent Supplies Equipment a/c payable Unearned service revenue Share capital ordinary Dr 27,000 12,000 9,000 5,400 44,000 I 3,000 8,000 86,400 A deep testing of each account in the trial balance revealed the following: 1. Supplies on hand by end of April were 2,000. 2. Equipment depreciated by 440 monthlies. 3. Prepaid rent amount was for 3 months 4. 3,000 of unearned revenues was provided during April. 5. Salaries of April accrued but not paid worth 6,200 6. A 2,000 cash worth service revenue performed during April but not recorded. Required: prepare all necessary adjusting entries and adjusted trial balance

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

Recommended Textbook for

Internal Auditing Assurance And Advisory Services

Authors: Kurt R. Reding, Paul J. Sobel, Urton L. Anderson, Michael J. Head, Sridhar Ramamoorti, Mark Salamasick, Cris Riddle

3rd Edition

0894137409, 978-0894137402

More Books

Students also viewed these Accounting questions

Question

mple 10. Determine d dx S 0 t dt.

Answered: 1 week ago