Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How do I create an adjusted trial balance with these numbers ? 4 in class.pptx class.pptx eek 4 in class.pptx (42.3 KB) After reviewing the

How do I create an adjusted trial balance with these numbersimage text in transcribed?

4 in class.pptx class.pptx eek 4 in class.pptx (42.3 KB) After reviewing the unadjusted Trial Balance it was discovered that supplies received on Jan. 5th totaling $2,500 were not recorded. . It was also discovered an insurance policy for the year costing $2,400 was purchased on Jan. 5th. After counting the supplips it was determined the value of existing supplies totaled $25,500. Pre-paid insurance of $6,000 was amortized over the 12 month policy period. Interest on the $55,000 6% Note payable was accrued. Depreciation for Equipment was $1,500 and $1,200 for the Leasehold Improvements. Estimated uncollectible accounts receivable are $500 The monthly sales manager's salary is $5,200. Salaries are paid the first Friday after the pay period ends 4 in class.pptx class.pptx eek 4 in class.pptx (42.3 KB) After reviewing the unadjusted Trial Balance it was discovered that supplies received on Jan. 5th totaling $2,500 were not recorded. . It was also discovered an insurance policy for the year costing $2,400 was purchased on Jan. 5th. After counting the supplips it was determined the value of existing supplies totaled $25,500. Pre-paid insurance of $6,000 was amortized over the 12 month policy period. Interest on the $55,000 6% Note payable was accrued. Depreciation for Equipment was $1,500 and $1,200 for the Leasehold Improvements. Estimated uncollectible accounts receivable are $500 The monthly sales manager's salary is $5,200. Salaries are paid the first Friday after the pay period ends

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

Principles of Auditing and Other Assurance Services

Authors: Ray Whittington, Kurt Pany

19th edition

978-0077804770, 78025613, 77804775, 978-0078025617

More Books

Students also viewed these Accounting questions

Question

=+d. Does the data set appear to contain any outliers?

Answered: 1 week ago

Question

What does this public think about this issue?

Answered: 1 week ago

Question

What benefits can you offer this public?

Answered: 1 week ago

Question

How free does this public see itself to act on this issue?

Answered: 1 week ago