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Chirp Hearing is owned by Christina Howell and provides hearing aids and other auditory services. At the end of November 2022, the company had the
Chirp Hearing is owned by Christina Howell and provides hearing aids and other auditory services. At the end of November 2022, the company had the following adjustments.
Nov 30 | Interest on the bank loan is set at 10%; one month of interest has accrued. |
Nov 30 | The balance of prepaid rent is for the remaining 10 months of the lease; one month of rent has been used. |
Nov 30 | The equipment was purchased three months prior at the beginning of the month and will have a useful life of 6 years, after which it will have residual value of $1,310. Depreciation is recorded every month. Record depreciation for November. |
Nov 30 | Chirp Hearing completed $490 of work that was previously unearned. |
Nov 30 | Auditory services were provided in the month for $1,500 and the customer will pay next month. |
Required
Using the following trial balance, complete the adjustments and the adjusted trial balance in the worksheet.
Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole number.
Chirp Hearing Worksheet November 30, 2022 | ||||||
Unadjusted Trial Balance | Adjustments | Adjusted Trial Balance | ||||
Account | DR | CR | DR | CR | DR | CR |
Cash | 3,800 | Answer | Answer | Answer | Answer | |
Accounts Receivable | 1,870 | Answer | Answer | Answer | Answer | |
Prepaid Rent | 13,000 | Answer | Answer | Answer | Answer | |
Equipment | 13,622 | Answer | Answer | Answer | Answer | |
Accumulated Depreciation | 342 | Answer | Answer | Answer | Answer | |
Accounts Payable | 2,500 | Answer | Answer | Answer | Answer | |
Interest Payable | Answer | Answer | Answer | Answer | ||
Unearned Revenue | 2,300 | Answer | Answer | Answer | Answer | |
Bank Loan | 6,600 | Answer | Answer | Answer | Answer | |
Howell, Capital | 17,750 | Answer | Answer | Answer | Answer | |
Howell, Withdrawals | 2,000 | Answer | Answer | Answer | Answer | |
Service Revenue | 9,100 | Answer | Answer | Answer | Answer | |
Depreciation Expense | Answer | Answer | Answer | Answer | ||
Rent Expense | Answer | Answer | Answer | Answer | ||
Interest Expense | Answer | Answer | Answer | Answer | ||
Insurance Expense | 2,000 | Answer | Answer | Answer | Answer | |
Salaries Expense | 2,300 | Answer | Answer | Answer | Answer | |
Total | 38,592 | 38,592 | Answer | Answer | Answer | Answer |
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