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I am confused how to calculate accumulated depreciation Tuna Programming is owned by Mark Kosak and provides computer solutions to the hospitality industry. At the
I am confused how to calculate accumulated depreciation
Tuna Programming is owned by Mark Kosak and provides computer solutions to the hospitality industry. At the end of August 2021, they had the following adjustments.
Aug 31 | Interest of $480 had accrued on the bank loan. |
Aug 31 | The balance of prepaid insurance is for a 4-month policy, one month of insurance has been used. |
Aug 31 | During August, Tuna Programming earned $520 of unearned revenue. |
Aug 31 | The computers were purchased on August 1, 2021 and have an expected useful life of five years, after which they will have no residual value. Record depreciation for August |
Required
Using the following trial balance, complete the adjustments and the adjusted trial balance in the worksheet.
Do not enter dollar signs or commas in the input boxes.
Tuna Programming Worksheet August 31, 2021 | ||||||
Unadjusted Trial Balance | Adjustments | Adjusted Trial Balance | ||||
Account | DR | CR | DR | CR | DR | CR |
Cash | 5,300 | Answer | Answer | Answer
| Answer | |
Accounts Receivable | 2,750 | Answer | Answer | Answer
| Answer | |
Prepaid Insurance | 5,200 | Answer | Answer
| Answer
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Computers | 13,800 | Answer | Answer | Answer
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Accumulated Depreciation-Computers | Answer | Answer
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Accounts Payable | 2,400 | Answer | Answer | Answer | Answer
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Interest Payable | Answer | Answer
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Unearned Revenue | 1,800 | Answer
| Answer | Answer | Answer
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Bank Loan | 2,860 | Answer | Answer | Answer | Answer
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Kosak, Capital | 16,890 | Answer | Answer | Answer | Answer
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Kosak, Withdrawals | 1,420 | Answer | Answer | Answer
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Service Revenue | 5,700 | Answer | Answer
| Answer | Answer
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Depreciation Expense | Answer
| Answer | Answer
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Insurance Expense | Answer
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Interest Expense | Answer
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Rent Expense | 900 | Answer | Answer | Answer
| Answer | |
Telephone Expense | 280 | Answer | Answer | Answer
| Answer | |
Total | 29,650 | 29,650 | Answer
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