Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ivanhoe Creek Golf Inc. was organized on July 1, 2022. Quarterly financial statements are prepared. The trial balance and adjusted trial balance on September 30

image text in transcribed

Ivanhoe Creek Golf Inc. was organized on July 1, 2022. Quarterly financial statements are prepared. The trial balance and adjusted trial balance on September 30 are shown as follows. IVANHOE CREEK GOLF INC. Trial Balance September 30, 2022 Unadjusted Dr. Cr. Cash $ 6,460 Accounts Receivable 610 Supplies 1,200 Prepaid Rent 1,840 Equipment 17,000 Accumulated Depreciation-Equipment Notes Payable $ 5,500 Accounts Payable 1.900 Salaries and Wages Payable Interest Payable Unearned Rent Revenue 1,330 Common Stock 16,100 Retained Earnings 0 Dividends 440 Service Revenue 19,100 Rent Revenue 1,060 Salaries and Wages Expense 8,950 Rent Expense 920 Depreciation Expense Supplies Expense Utilities Expense 7,570 Interest Expense $44,990 $44,990 Adjusted Dr. Cr. $ 6,460 1,250 300 920 17,000 $ 340 5,500 1,900 550 55 870 16,100 0 440 19,740 1,520 9,500 1,840 340 900 7,570 55 $46,575 $46,575 (a) Journalize the adjusting entries that were made. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Intermediate Microeconomics

Authors: Hal R. Varian

9th edition

978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968

Students also viewed these Accounting questions