Question
how do i prepare the adjusting entries that were made with this information? The trial balances before and after adjustment for Wildhorse Company at the
how do i prepare the adjusting entries that were made with this information?
The trial balances before and after adjustment for Wildhorse Company at the end of its fiscal year are presented below.
WILDHORSE COMPANY Trial Balance August 31, 2020 | ||||||||
---|---|---|---|---|---|---|---|---|
Before Adjustment | After Adjustment | |||||||
Dr. | Cr. | Dr. | Cr. | |||||
Cash | $ 10,300 | $ 10,300 | ||||||
Accounts Receivable | 8,500 | 9,600 | ||||||
Supplies | 2,400 | 500 | ||||||
Prepaid Insurance | 3,700 | 2,700 | ||||||
Equipment | 12,400 | 12,400 | ||||||
Accumulated DepreciationEquipment | $ 3,500 | $ 4,400 | ||||||
Accounts Payable | 5,800 | 5,800 | ||||||
Salaries and Wages Payable | 0 | 1,400 | ||||||
Unearned Rent Revenue | 1,400 | 800 | ||||||
Owners Capital | 13,300 | 13,300 | ||||||
Service Revenue | 34,200 | 35,300 | ||||||
Rent Revenue | 10,800 | 11,400 | ||||||
Salaries and Wages Expense | 16,900 | 18,300 | ||||||
Supplies Expense | 0 | 1,900 | ||||||
Rent Expense | 14,800 | 14,800 | ||||||
Insurance Expense | 0 | 1,000 | ||||||
Depreciation Expense | 0 | 900 | ||||||
$ 69,000 | $ 69,000 | $ 72,400 | $ 72,400 |
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