Help System Announcements CALCULATOR PRINTER VERSION BACK NE The unadjusted trial balance for Grouper Corp. is shown below. Assets Liabilities Stockholders' Equity Reatined Earnings Prepd. +Rec. +Supplies + Insur. +Equip. - Accts. Acc. Depr- Equip. Accts. Int. Unearned Sal. & Wages Pay. Com. Stock + Notes Pay. +Pay. +Pay. +Serv. Rev. + Cash Rey Exp. Div Bal, 15,820 C 2,860 720 4,590 4,590 2,230 1,490 11,100 13,990 8,830 -580 Assume the following adjustment data. 1. Supplies on hand at October 31 total $520. Expired insurance for the month is $120. Depreciation for the month is $135 As of October 31, services worth $950 related to the previously recorded unearned revenue had been performed. Services performed but unbilled (and no receivable has been recorded) at October 31 are $250 6. 2. 3. 4. Interest expense accrued at October 31 is $75 7 Accrued salaries at October 31 are $1,520. Prepare a tabular summary to record adjustments for the items above using the summary that follows. (If a transaction results in a decrease in Assets, Liabilities or S particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Accts Rec. Prepd. Insur. Acc. Depr- Equip. Accts Pay Int. Pay Unearned Serv. Rev S Cash + Supplies Equip. 4,590 Notes Pay. + Bal. 15,820 2,860 720 4,590 2,230 1,490 1. 2. Prepare adjustments for the following transactions. Indicate the change in each account affected (Increase or Decrease), the account title of each account affected, and the amount. Unrecorded interest accrued on savings bonds is $410. 1. Property taxes incurred but not paid or recorded amount to $800. Unearned service revenue of $4,000 was collected in advance. By year end $700 was still unearned. Prepaid insurance had a $750 balance prior to adjustment. By year end, 60 percent was still unexpired. 2. 3. 4. Salaries incurred by year end but not yet paid or recorded amounted to $650. 5. No. Increase or Decrease Account Titles Amount 1 2. 3. 4 5