Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Exercise 4-11 The unadjusted trial balance for Marigold Corp. is shown below MARIGOLD CORP Trial Balance October 31, 2017 Debit $15,510 2,540 690 4,990 Credit
Exercise 4-11 The unadjusted trial balance for Marigold Corp. is shown below MARIGOLD CORP Trial Balance October 31, 2017 Debit $15,510 2,540 690 4,990 Credit Cash Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Rent Expense $4,990 2,300 1,890 11,300 560 13,400 4,000 5,590 $33,880 $33,880 Assume the following adjustment data 1. Supplies on hand at October 31 total $530 2. Expired insurance for the month is $115 3. Depreciation for the month is $70 4. As of October 31, services worth $830 related to the previously recorded unearned revenue had been performed 5. Services performed but unbilled (and no receivable has been recorded) at October 31 are $240 6. Interest expense accrued at October 31 is $90 7. Accrued salaries at October 31 are $1,505 Prepare the adjusting entries for the items above. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit accoun amount is entered. Do not indent manually.)
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