Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Exercise 3-17 Adjusting entries LO4, 6 Using the information given complete the table given below: Additional information: a. Annual depreciation of the equipment; $12,300. b.
Exercise 3-17 Adjusting entries LO4, 6 Using the information given complete the table given below: Additional information: a. Annual depreciation of the equipment; $12,300. b. $12,800 of the Prepaid Insurance balance has expired. c. Unbilled and unrecorded revenues at year-end totalled $31,800. Required: Use the information provided to complete the columns. NUNA MUSIC Trial Balances February 28, 2020 Unadjusted Trial Balance Cash 14,800 32,800 Accounts receivable Prepaid insurance 17,600 $ Dr. Cr. Dr. Adjustments Cr. Dr. Adjusted Trial Balance Cr. Cash Accounts receivable Prepaid insurance Equipment Accumulated depreciation, equipment Accounts payable Abraham Nuna, capital Abraham Nuna, withdrawals Revenues Depreciation expense, equipment Salaries expense Insurance expense Totals $ NUNA MUSIC Trial Balances February 28, 2020 Unadjusted Trial Balance 14,800 32,800 17,600 106,000 23,800 19,800 221,000 106,000 223,600 0 195,700 15,300 488,200 $ 488,200 Dr. Cr. Dr. Adjustments Cr. Dr. Adjusted Trial Balance Cr
Step 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