Exercise 4-11

The unadjusted trial balance for Martinez Corp. is shown below.

MARTINEZ CORP.

Trial Balance

October 31, 2017

Debit Credit

Cash $15,410

Supplies 3,400

Prepaid Insurance 750

Equipment 5,420

Notes Payable $5,420

Accounts Payable 2,040

Unearned Service Revenue 1,450

Common Stock 11,100

Retained Earnings 0

Dividends 630

Service Revenue 13,680

Salaries and Wages Expense 4,000

Rent Expense 4,080

$33,690

$33,690

Assume the following adjustment data.

1. Supplies on hand at October 31 total $530.

2. Expired insurance for the month is $125.

3. Depreciation for the month is $75.

4. As of October 31, services worth $920 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 $330.

6. Interest expense accrued at October 31 is $80.

7. Accrued salaries at October 31 are $1,460.

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 account titles are automatically indented when the amount is entered. Do not indent manually.)

No.

Date

Account Titles and Explanation

Debit

Credit

1. Oct. 31

2. Oct. 31

3. Oct. 31

4. Oct. 31

5. Oct. 31

6. Oct. 31

7. Oct. 31