Data table Irvine Inn Company Unadjusted Trial Balance December 31, 2018 Balance Debit Credit Account Title Cash $ $ 12,600 Accounts Receivable 15,500 Prepaid Insurance 3,600 Office Supplies 900 525,000 Building Accumulated Depreciation Building $ 310,000 Print Done Data table $ $ 310,000 1,820 Accumulated Depreciation Building Accounts Payable Salaries Payable Unearned Revenue Common Stock Dividends 2.400 231,090 1,890 Service Revenue 18,300 3,200 Salaries Expense Insurance Expense Depreciation Expense-Building Advertising Expense 920 Data table Unearned Revenue 2,400 Common Stock 231,090 Dividends 1,890 Service Revenue 18,300 3,200 Salaries Expense Insurance Expense Depreciation Expense Building Advertising Expense 920 Supplies Expense $ 563,610 $ Total 563,610 - More info Adjustment data at December 31 follow: a. As of December 31, Irvine had $400 of Prepaid Insurance remaining. b. At the end of the month, Irvine had $600 of office supplies remaining. c. Depreciation on the building is $1,500. d. Irvine pays its employees weekly on Friday. Its employees earn $2.700 for a five-day workweek. December 31 falls on Wednesday this year, e. On November 20, Irvine contracted to perform services for a client receiving $2,400 in advance. Irvine recorded this receipt of cash as Unearned Revenue. As of December 31, Irvine has $1,300 still unearned. 3 Requirements 1. Journalize the adjusting entries on December 31. 2. The four-column ledger accounts have been opened for you using the unadjusted trial balance. Post the adjusting entries to the ledger accounts 3. Prepare the adjusted trial balance. 14. Assuming the adjusted trial balance has total debits equal to total credits does this mean that the adjusting entries have been recorded correctly? Explain. Requirement 1. Journalize the adjusting entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. As of December 31. Irvine had $400 of Prepaid Insurance remaining. Date Ackounts and Explanation Debit Credit t - (a) Dec. 31 b. At the end of the month, Irvine had $600 of office supplies remaining. Date Accounts and Explanation Debit Credit (b) Dec. 31 C. Depreciation on the building is $1,500. Date Accounts and Explanation Debit Credit (c) Dec. 31 d. Irvine pays its employees weekly on Friday. Its employees earn $2,700 for a five-day workweek. December 31 falls on Wednesday this year. a Date Accounts and Explanation Debit Credit (d) Dec. 31 e. On November 20, Irvine contracted to perform services for a client receiving $2,400 in advance. Irvine recorded this receipt of cash as Uneared Revenue. As of December 31, Irvine has $1,300 still unearned. Date Accounts and Explanation Debit Credit (e) Dec. 31 Requirement 2. The Four column counts tv been pened for you using the unadjusted trial biance Post the adjusting entries to the federacons 8. As of December 31, vine had 5400 of Prepaid Insurance romaining Review the many you are in Requirement PREPAID INSURANCE Balance Poat Rat Debat Credit Det Credit 2018 Dec. 31 3,600 Balance al Dec 31 INSURANCE EXPENSE Balance Date Post Rel Deba Credit Debit Credit 2018 Ded1 Dec. 31 Balance a) b. At the end of the month $600 office supplies remaining Review the jouma entry you prepared in Requirement OFFICE SUPPLIES Balance Debi Credit He Date Dobit Post Ret Credit 2018 900 8 8 Dec 31 Balance Der 31 hi SUPPLIES EXPENSE Balance Post. Ref. Date Item Debit Credit Debit Credit 2018 0 Dec. 31 Balance Dec. 31 (b) c. Depreciation on the Dulaing is $1,500. . Review the journal entry you prepared in Requirement 1. ACCUMULATED DEPRECIATION BUILDING Balance Date Item Post. Ref. Debit Credit Debit Credit 2018 Dec. 31 Balance 310,000 Dec. 31 DEPRECIATION EXPENSE-BUILDING Balance Date Item Post. Ref. Debit Credit Debit Credit 2018 Dec. 31 Balance 0 Dec. 31 (c) d. Irvine pays its employees on Friday for the weekly salaries. Its employees earn $2,700 for a five-day workweek. December 31 folls on Wednesday this year Review the journal entry you prepared in Requirement 1 SALARIES PAYABLE Balance Date Item Post. Ref. Debit Credit Dobit Credit 2018 Dec. 31 0 Balance (d) Dec. 31 SALARIES EXPENSE Balance Date Item Post. Ref. Dobit Credit Debit Credit 2018 3,200 Dec. 31 Balance (d) Dec. 31 e. On November 20, Irvine contracted to perform service for a client receiving $2.400 in advance, bine recorded set of cash as Unoored Revenue. As of December 31, Irineu 1,300 vitro Review the journal entry you prepared in Requirement UNEARNED REVENUE Balance Date Item Post. Rot Debi Credit Dobit Credit 2018 2.400 Dec. 31 Dec 31 Balance to) SERVICE REVENUE Balance Date Item Post For Debit Credit Debi Credit 2018 30 Balance Deu. 35 Dec.31 Requirement 3. Prepare the adjusted trial balance. Review the ledger accounts. Irvine Inn Company Adjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit The unadjusted trial balance of mine Company at December 31 2018. and the data for the customers tolow Requirement 4. Assuming the trial banco has total des a tots dos mantenere have been VAadhatyarty recorded for the incomecourt den and the creatoris the