Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Date Description Post Ref Debit Credit Assets Liabilities Equity Janaury 31 Insurance Expense 1,325 Prepaid Insurance 1,325 (7,310 - 5,985) Janaury 31 Supplies Expense 1,965

Date Description Post Ref Debit Credit Assets Liabilities Equity
Janaury 31 Insurance Expense 1,325
Prepaid Insurance 1,325
(7,310 - 5,985)
Janaury 31 Supplies Expense 1,965
Supplies 1,965
(2,435 - 470)
Janaury 31 Depreciation Expense - Building 7,900
Accumulated Depreciation - Building 7,900
Janaury 31 Depreciation Expense - Equipment 4,590
Accumulated Depreciation - Equipment 4,590
Janaury 31 Unearned Rent 4,865
Rent Revenue 4,865
(6,425 - 1,560)
Janaury 31 Salries and Wages Expense 3,085
Salries and Wages Payable 3,085
Janaury 31 Accounts Receivable 11,010
Fees Earned 11,010

image text in transcribedimage text in transcribed

ADJUSTED TRIAL BALANCE January 31, 20Y1 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Accounts Receivable 3 Prepaid Insurance 4 Supplies 5 Land 6 Building 7 Accumulated Depreciation-Building 8 Equipment 9 Accumulated Depreciation-Equipment 10 Accounts Payable 11 Unearned Rent 12 Salaries and Wages Payable 13 Common Stock 14 Retained Earnings 15 Dividends 16 Fees Earned 17 Rent Revenue 12 Salaries and Wages Payable 13 Common Stock 14 Retained Earnings 15 Dividends 16 Fees Earned 17 Rent Revenue 18 Salaries and Wages Expense 19 Utilities Expense 20 Advertising Expense 21 Repairs Expense 22 Depreciation Expense-Building 23 Depreciation Expense-Equipment 24 Insurance Expense 25 Supplies Expense 26 Miscellaneous Expense 27 Totals ADJUSTED TRIAL BALANCE January 31, 20Y1 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Accounts Receivable 3 Prepaid Insurance 4 Supplies 5 Land 6 Building 7 Accumulated Depreciation-Building 8 Equipment 9 Accumulated Depreciation-Equipment 10 Accounts Payable 11 Unearned Rent 12 Salaries and Wages Payable 13 Common Stock 14 Retained Earnings 15 Dividends 16 Fees Earned 17 Rent Revenue 12 Salaries and Wages Payable 13 Common Stock 14 Retained Earnings 15 Dividends 16 Fees Earned 17 Rent Revenue 18 Salaries and Wages Expense 19 Utilities Expense 20 Advertising Expense 21 Repairs Expense 22 Depreciation Expense-Building 23 Depreciation Expense-Equipment 24 Insurance Expense 25 Supplies Expense 26 Miscellaneous Expense 27 Totals

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

More Books

Students also viewed these Accounting questions