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Garvey Company's unadjusted trial balance includes the following account balances as of December 31, 2018: Credits Debits $ 69,290 118,100 1,360 140,700 8,850 50,900 282,000
Garvey Company's unadjusted trial balance includes the following account balances as of December 31, 2018: Credits Debits $ 69,290 118,100 1,360 140,700 8,850 50,900 282,000 Cash Accounts Receivable Interest Receivable Supplies Prepaid Insurance Notes Receivable (short-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Deferred Revenue Notes Payable (long-term) Common Stock Retained Earnings Service Revenue Interest Revenue Supplies Expense Repair and Maintenance Expense Rent Expense Depreciation Expense Insurance Expense Salaries and Wages Expense Totals $ 65,400 105,600 21,900 9,500 88,600 219,400 145,600 41,100 22,200 26,850 18,100 3,150 $ 719,300 $ 719,300 The following data are available to determine adjusting entries: A) Insurance purchased at the beginning of July for $8,850 provided coverage for twelve months (July 2018 through June 2019). The insurance coverage for July through December totaling $4,425 has now been used. B) The company estimates $8,300 in depreciation each year. C) A count showed $87,200 of supplies on hand at the end of the year. D) An additional $290 of interest has been earned but has not yet been uncollected on the outstanding notes receivable. E) Services in the amount of $5,750 were performed for customers who had previously paid in advance. F) Services in the amount of $2,300 were performed; these services have not yet been billed or recorded. b. Prepare an adjusted trial balance by completing the related columns in the table below. Complete this question by entering your answers in the tabs below. Required A Required B Prepare an adjusted trial balance by completing the related columns in the table below. Credit Garvey Company Adjusted Trial Balance December 31, 2018 Debit Cash Accounts Receivable Interest Receivable Supplies Prepaid Insurance Notes Receivable (short-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Deferred Revenue Notes Payable (long-term) Common Stock Retained Earnings Service Revenue Interest Revenue Supplies Expense Repairs and Maintenance Expense Rent Expense Depreciation Expense Insurance Expense Salaries and Wages Expense Totals $ 0 $
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