Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Can you please answer these questions c At the end of January, the following additional information is available to help determine what adjustments are needed:
Can you please answer these questionsc
At the end of January, the following additional information is available to help determine what adjustments are needed: Amount Amount 50 6985 4680 31-Jan One month of interest has accrued on the note payable for the bank loan. 31-Jan Additional work for customers has been performed during the last week of January but not billed yet 31-Jan Supplies were counted at month end 31-Jan One month of the prepaid rent has been used up 31-Jan Depreciation expense needs to be recognized for the computer equipment and for the office furniture 31-Jan One month of the services for Stanley Inc. has been performed (see above). 31-Jan Salaries are paid every Friday (for a 5 day work week). January 31 was a Tuesday 750 295 comp equip 85 off furn 980 6,560 weekly 2624 ADJUSTING JOURNAL ENTRIES - ZKTZ Consulting Inc ACCOUNT DEBIT CREDIT DATE Worksheet - ZKTZ Consulting Inc BEGINNING NUMBERS JANUARY ENTRIES UNADJUSTED TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE CREDIT DEBIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT 49,200 CREDIT 37,586.00 8,950.00 63,210.00 11,500.00 5,650.00 9,000.00 10,590 74,824 2,550 16,240 9,000 58,300 67,500 58,300 67,500 8,950.00 8,950 10,590 10,590.00 5,650.00 5650 ACCOUNT Cash Accounts Receivable Supplies Prepaid Rent Land Computer Equipment Accumulated Depreciation, Comp Equip Office Furniture Accumulated Depreciation, Off Furn Accounts Payable Salaries Payable Interest Payable Uneamed Revenue Long-term Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Supplies Expense Utilities Expense Interest Expense Depreciation Expense, Comp Equip Depreciation Expense, Office Furniture 11,760.00 30,000.00 11760 30000 175,000 175,000 500 500 24,000.00 24000 6.560.00 6560 1,986.00 1986 185,590 185,590 117946 117946 246,410 246410Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started