Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

glmenourusighmentMain.doinvoker-assignments&itakeAssignmentSessionlocator t-takeBanprogressafalse a )-. Kirk Enterprises offers rug dleaning services to business clients. Below is the trial balance for Kirk Enterprises, which was prepared on

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
glmenourusighmentMain.doinvoker-assignments&itakeAssignmentSessionlocator t-takeBanprogressafalse a )-. Kirk Enterprises offers rug dleaning services to business clients. Below is the trial balance for Kirk Enterprises, which was prepared on the end-of-period spreadsheet (work sheet) for the year ended July 31. Kirk Enterprises For the Year Ended July 31 Unadjusted Trial Unadjusted Trial Adjusted Trial Adjusted Trlal Adjustments Adjustments Balance Balance 2 Account Title Dr. Cr Dr. Ct. Dr. s Cash 3600 4 Prepaild Insurance 1200 s Fees Receivable 5600 s Supplies 1200 6000 Equipment 2.00 20.00 Uneamed Revenue 2.00 Accounts Payable wages Payable 84.00 I Ruben Ramon, daptal (Pr Previous plaReatsighmenty takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionLocator finvoker-assignments&takessignmentSessionLocator assignment-take&inprogress-fals Caiculator 13 Ruben Ramon, Drawing 4.00 14 Service Revenue 80.00 15 Advertising Expense 2800 s Wage Expense 20.00 17 Insurance Expense 18Supplies Expense 19 Depreciation Expense 20 Totals 22800 $22800 The data for year-end adjustments are as follows a The equipment is estimated to last for five years with no salvage value. The asset will be depreciated evenly over its useful life. Record one month's depreciation b. Accrued wages, s2 c Unused supplies on hand, $8 Of the unearned revenue, 75% has been earned d. e. Unexpired insurance remaining at the end of the month, $9 Required: Enter the sqjustment data in the work sheet and place the baiances in the Adjusted Trial Balance columns Leave cells biank that do not require odustment data in the work sheet and place the balances in the Adjusted Thial Baiance columns. Leave cels blank that do not require an entry Kirk Enterprises End-of-Period Spreadsheet For the Year Ended July 31 Miisted Trial Adjusted Trial djustments Adjustments Balance Balance Balance 2 Account Title Dr. Ca s Cash 36.00 4 Prepaid Insurance 2.00 s Fees Recehvable 56.00 s Supplies 1200 6000 Accumulated Depreciation 1200 s Unearned Revenue 2000 Accounts Payable 2 00 : Wages Payable Previous Next All work saved. Save and Exit Submit Test for Grad 5 Fees Receivable 6Supplies Equipment 6000 9 Uneamed Revenue 2000 11 Wages Payable Ruben Ramon, Capital 84.00 1 Ruben Ramon, Drawing 4.00 14 Service Revenue 8000 Advertising Expense 2800 2000 6 Wages Expense Insurance Expense Supplies Expense 19 Depreciation Expense 228.00 228.00 Totals Prev All work saved

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting Creating Value in a Dynamic Business Environment

Authors: Ronald Hilton, David Platt

10th edition

78025664, 978-0078025662

More Books

Students also viewed these Accounting questions