I cannot find out why the adjusted balance wont match up, please help :)
Everly Company Unadjusted Trial Balance December 31, 2018 106,000 28,000 7,500 30,000 110,000 15,000 80,000 Cash Accounts Receivable Supplies Prepaid Insurance Inventory Vehicle Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Eamings (1/1/2018) Dividends Service Revenue Repair Expense Delivery Expense Depreciation Expense Rent Expense Insurance Expense Wages Expense Supplies Expense Interest Expense Income Tax Expense 46,000 8,000 17,900 12,500 50,000 46,000 47,600 5,000 465,500 12,000 45,000 2,000 48,000 10,000 143,000 14,000 3,000 35,000 693,500 Total 693,500 journal entries using ine unadjusted trial balance provided Part 1: Prepare adjusting journal entries using tne un Financial Statement Homework quiz on D2L and the to you in Question 1 of the Financial Statement Homework The Unadjusted Trial Balance can be downloaded from information provided below. The Unadjusted Tria! Balanc king on the image and eaving it to your computer. When the D2L quiz by right clicking on the image and saving it Surnal entries, use only the account names provided in the preparing the adjusting journal entries, use only ce (do not create any new account names and do not Unadjusted Trial Balance (do not create any no abbreviate account names). The prepaid insurance balance reflects a 12-month insurance policy which started on Sept. 1. 2018, and no adjustments were made from Sept. 1 - Dec. 31, 2018. Write the adjusting journal entry for Dec. 31, 2018. Incurance Expense 10.000 Dve Paid Insurance 10.000 2. Additional depreciation expense of $15,000 needs to be recorded for the year ended 2018 Depreciation Expense 19.000 Accumulated Depreciation 16.000 3. Wages due to employees of $8,000 need to be recorded at year end. These wages will be paid to employees on January 9, 2019. (next month) Wages Expense 8.000 Wages payable 8000 4. The company has completed $12,900 of the amount in unearned revenue as of Dec. 318! Uneamed Revenue 12, 9000 service Revenue 12,9000 5. In Dec. the company provided services worth $8,000 to clients that were not yet billed or recorded by Dec. 31. Record the additional revenue. Account Recievable 18.000 Service Borrente 6. On Dec 31" the company completed a physical count of their supplies and determined that only $4,000 of supplies are still on hand. supplies Expense! 3,500 Supplier 3.600 Page 2 of 8 Part 3: Prepare the Adjusted Trial Balance (i.e., alter the previous 6 journal entries are posted) Everly come Company Name) Dec 31, 2016_(Date) Adjusted Trial Balance 0 Cash Accounts Receivable Supplies Prepaid Insurance Inventory Vehicle Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Earnings (1/1/2018) Dividends Service Revenue Repair Expense Delivery Expense Depreciation Expense Rent Expense Insurance Expense Wages Expense Supplies Expense Interest Expense Income Tax Expense Total 310.000 4000 20.000 110,000 1000 190,ooo 31000 18.000 19.000 70,000 90.000 410.000 41. L000 oood 444.600 12.000 46000 11,000 140.000 20,000 191.000 17. 50001 3,000 30.000 11 20900 662700 Page 4 of 8
