Financial accounting 101

SA was organized on January 1, 2017. At the end of the first 6 months of operations, the trial balance contained the accounts shown below. Credits 8,255 Notes Payable 21,600 13,905 Accounts Payable 8,556 46,544 Share Capital - Ordinary 22,121 2,640 Service Revenue 57,578 29,866 3,676 1,967 1,571 1,431 109,855 109,855 wing additional data. in Supplies Expense represents supplies purchased in January. At June 30, 527 of supplies are on hand. as issued on February 1. It is a 9%, 6-month note. rance Expense is the premium on a 1-year policy, dated March 1, 2017 e credited to revenue when received. At June 30, service revenue of 1,310 is still not performed for the customer. 60 per year. ries at June 30. (Assume adjustments are recorded every 6 months.) (Credit account titles are automatically indented when the amou and Explanation Det Credit Assistance, you will learn while you eam points based on the Point Potential Policy set by vour instructor. (a) Journalize the adjusting entries at June 30. (Assume adjustments are recorded every 5 months.) (Credit account titles are automatically indented when the amount is entered. Do not inden manually.) Account Titles and Explanation Det Credit No. Date 1. June 30 2. June 30 3. Pune 30 4. Sune 30 5. Pune 30 By accessing this question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Question Alpha Graphics Company SA was organized on January 1, 2017. At the end of the first 6 months of operations, the trial balance contained the accounts shown below. Debits Credits Cash 8,255 Notes Payable 21,600 Accounts Receivable 13,905 Accounts Payable 8,556 Equipment 46,544 Share Capital - Ordinary 22,121 Insurance Expense 2,640 Service Revenue 57,578 Salaries and Wages Expense 29,866 Supplies Expense 3,676 Advertising Expense Rent Expense 1,57: Utilities Expense 1,431 109,855 109,855 1,967 Analysis reveals the following additional data 1. The C3,676 balance in Supplies Expense represents supplies purchased in January, At June 30, 6527 of supplies are on hand. 2. The note payable was issued on February 1. It is a 9%, 6-month note. 3. The balance in Insurance Expense is the premium on a 1-year policy, dated March 1, 2017 4. Service revenues are credited to revenue when received. At June 30, service revenue of 1,310 is still not performed for the customer. Depreciation is 2,160 per year. 5