Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Instructions: (A) Enter the unadjusted trial balance into the worksheet. (B) Bill's makes adjustments monthly. Prepare the adjustments at December 31, 2022, in good

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Instructions: (A) Enter the unadjusted trial balance into the worksheet. (B) Bill's makes adjustments monthly. Prepare the adjustments at December 31, 2022, in good form. 1. The insurance policy was puchased for $4,500 for one year, starting September of this year. 2. A utilities bill for $95 for December is unpaid and has not been recorded. 3. The interest rate on the Note Payable is 6%. It was signed effective June 1 of this year. 4. $1,000 of the Unearned Revenue has been earned during the month. 5. Wages of $350 are owed at the end of the month. 6. Supplies on hand at the end of the month is $300. 7. Depreciation is calculated at $550 per month. (C) Post the adjustments to the General Ledger. Ignore referencing. (D) Complete the remaining columns on the worksheet. Numbering adjustments is not required. (E) Journalize the closing entries, in good form. (F) Post the closing entries. (G) Prepare the post-closing trial balance. Facts Worksheet General Journal General Ledger Post-Closing Trial Balance

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

Managerial Accounting Tools for Business Decision Making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

7th edition

978-1118334331, 1118334337, 978-1119036449, 1119036445, 978-1119036432

More Books

Students also viewed these Accounting questions

Question

4. Schedule individual conferences with students.

Answered: 1 week ago