Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can someone help me with this please :) The trial balance for Pioneer Advertising Agency shows the following: PIONEER ADVERTISING AGENCY Trial balance as at

image text in transcribed

image text in transcribed

Can someone help me with this please :)

The trial balance for Pioneer Advertising Agency shows the following: PIONEER ADVERTISING AGENCY Trial balance as at 31 October 2016 Debit Credit Cash $15,200 Advertising supplies 2,500 Prepaid insurance 600 Office equipment 5,000 Notes payable $5,000 Accounts payable 2,500 Unearned income 1,200 C.R. Byrd, Capital 10,000 C.R. Byrd, Drawing 500 Service revenue 10 000 Salaries expense 4,000 Rent expense 900 $28,700 $28,700 The entity prepares adjusting entries on a monthly basis. Assume the following adjustment data: 1. Advertising supplies on hand at 31 October total $1,000. 2. Expired insurance for the month is $100. 3. Depreciation expense (office equipment) for October 2016 is $50. 4. Unearned income earned in October totals $600. 5. Services provided but not recorded at 31 October are $300. Interest accrued at 31 October is $70. 7. Accrued salaries at 31 October are $1,200. 6. Required Prepare the adjusting entries for the items above. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Accounts Credit 1. Oct. 31 Debit 2. Oct. 31 3. Oct. 31 4. Oct. 31 5. Oct. 31 6. Oct. 31

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 Audit Handbook Management With The SAP Audit Roadmap

Authors: Henning Kagermann, William Kinney, Karlheinz Küting, Claus-Peter Weber, Z. Keil, C. Boecker, J. Busch, O. Bussiek, M. H. Christ, P. Eckes, M. Falk, P. S. Greenberg, B. Reichert, M. Wolf

2008th Edition

3642430392, 978-3642430398

More Books

Students also viewed these Accounting questions

Question

List out the etiquette to be followed while using the cell phone.

Answered: 1 week ago

Question

Apply your own composing style to personalize your messages.

Answered: 1 week ago

Question

Format memos and e-mail properly.

Answered: 1 week ago