Exercise 4-11 The unadjusted trial balance for Sierra Corp. is shown below. Assets Liabilities Stockholders' Equity Reatined Earnings Acc. Depr Equip. Accts = Notes Pay. + Pay. Com Stock + Sal. & Wages Pay. Unearned Pay. + Serv. Rev. + Accts. Prepd Rec. + Supplies + Insur. + Equip. Int. Exp. Div Cash Rev 1,200 0 5,000 Bal. 15,200 0 2,500 600 5,000 2,500 0 0 10,000 10,000 -4,900 -500 Assume the following adjustment data. Supplies on hand at October 31 total $500 Expired insurance for the month is $100 Depreciation for the month is $75. 1. 2. 3. As of October 31, services worth $800 related to the previously recorded unearned revenue had been performed. 4. Services performed but unbilled (and no receivable has been recorded) at October 31 are $280 5. Interest expense accrued at October 31 is $70. 6. 7. Accrued salaries at October 31 are $1,400. Liabilities Assets Accts Prepd Accts Pay. Acc. Depr- Int. Equip Notes Pay Equip + Supplies + + + + Cash Rec. Insur Pay. 5,000 2,500 Bal 15,200 C 2,500 600 5,000 0 C 1. 2. 3. 4. 5. 6. 7. Adj Bal LINK XT LINK TO TEXT Retained Earnings Sal. & Wages Pay Unearned Com Serv. Rev Rev Exp + + + + Stock Div -4,900 1,200 0 10,000 10,000 -500 VIDEO: SIMILAR EXERCISE