Question
Limbo Lower has completed all of its journal entries for the month of February 2019, and posted them to the general ledger. An unadjusted trial
Limbo Lower has completed all of its journal entries for the month of February 2019, and posted them to the general ledger. An unadjusted trial balance has been prepared. The following adjustments must be made. Feb 28 The amount of prepaid insurance is for 12 months; one month has been used. Feb 28 Depreciation for the month on equipment was $260. Feb 28 Unearned revenue of $930 has now been earned.. Feb 28 Work was performed for $830 which will be collected next month. Required a) Using the following unadjusted trial balance, complete the adjustments and the adjusted trial balance in the worksheet. Do not enter dollar signs or commas in the input boxes Select the proper order for the headings of the worksheet. Unadjusted Trial Balance Account DR CR Cash 5,810 Accounts Receivable 1,070 Prepaid Insurance 1,800 Equipment 9,510 Accumulated Depreciation Accounts Payable 3,180 Adjustments Adjusted Trial Balance DR CR DR CR Unadjusted Trial Balance Account Cash DR CR 5,810 Accounts Receivable 1,070 Prepaid Insurance 1,800 Equipment 9.510 Accumulated Depreciation Accounts Payable 3,180 Unearned Revenue 2,240 Bank Loan 4,500 Roberts, Capital 6,370 Roberts, Withdrawals 1,300 Service Revenue 5,030 Depreciation Expense 780 Insurance Expense DR Adjustments Adjusted Trial Balance CR DR CR Interest Expense 30 Rent Experise 1,020 E 21,320 21,320 Total Type here to search L b) Prepare the journal entries for the above transactions. Date Account Title and Explanation Debit Credit 2019 Feb 28 O Feb 28 Expense one month of insurance Feb 28 Depreciate Equipment ious page Feb 28 Earned revenue To accrue service revenue Type here to search DI E NO
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