Bill's Boards (BB) is an outdoor advertising company founded by William Longfall. William knows very little...
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Bill's Boards (BB) is an outdoor advertising company founded by William Longfall. William knows very little accounting so he hired a friend to "keep the books." Unfortunately, William did not review his friend's work and now it seems his friend has made a mess of the accounting records. William has provided you the following list of unadjusted account balances at BB September 30 fiscal year-end. You have reviewed the balances with William and made notes shown in the right column. Account Name Cash Debits $ 18,300 Accounts Receivable 1,920 BILL'S BOARDS Unadjusted Trial Balance 0 At September 30 Credits Notes This balance equals the balance reported by the bank. A customer ordered $1,920 of advertising services to be provided in October. The accountant recorded this service by debiting Accounts Receivable and crediting Service Revenue. Starting January 1, BB agreed to pay $960 cash to rent the land on which its billboards are located, for the January-December period. The accountant adjusted this account on April 30 but has not adjusted it since. BB still has supplies costing $210 on hand on September 30. BB bought scaffolding and billboards in Prepaid Rent 640 Supplies Equipment 4,000 Bill's Boards (BB) is an outdoor advertising company founded by William Longfall. William knows very little accounting so he hired a friend to "keep the books." Unfortunately, William did not review his friend's work and now it seems his friend has made a mess of the accounting records. William has provided you the following list of unadjusted account balances at BB September 30 fiscal year-end. You have reviewed the balances with William and made notes shown in the right column. Account Name Cash Debits $ 18,300 Accounts Receivable 1,920 BILL'S BOARDS Unadjusted Trial Balance 0 At September 30 Credits Notes This balance equals the balance reported by the bank. A customer ordered $1,920 of advertising services to be provided in October. The accountant recorded this service by debiting Accounts Receivable and crediting Service Revenue. Starting January 1, BB agreed to pay $960 cash to rent the land on which its billboards are located, for the January-December period. The accountant adjusted this account on April 30 but has not adjusted it since. BB still has supplies costing $210 on hand on September 30. BB bought scaffolding and billboards in Prepaid Rent 640 Supplies Equipment 4,000
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