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Please help me with creating an adjusted trial balance sheet here are the unadjusted trial balance and the adjusting entries Unadjusted Trial Balance December 31,
Please help me with creating an adjusted trial balance sheet
here are the unadjusted trial balance and the adjusting entries
Unadjusted Trial Balance | ||
December 31, 2021 | ||
Debit | Credit | |
Cash | 976,218 | |
Accounts receivable | 300,000 | |
Allowance for doubtful accounts | - | |
Inventory | - | |
Allowance to Reduce Inventory to NRV | - | |
Purchases | 350,000 | |
Prepaid insurance | 4,167 | |
Land | 88,000 | |
Building | 500,000 | |
Accumulated depreciation: building | 16,570 | |
Equipment | 260,000 | |
Accumulated depreciation: equipment | 108,330 | |
Delivery Trucks | - | |
Accumulated depreciation: delivery trucks | - | |
Investment in XYZ Company Stock | 100,000 | |
Patent | 200,000 | |
Accounts payable | 116,184 | |
Notes payable | 100,000 | |
Income taxes payable | 47,667 | |
Unearned rent revenue | 15,000 | |
Bonds Payable | 1,000,000 | |
Premium on Bonds Payable | 81,105 | |
Common stock | 125,000 | |
PIC In Excess of Par-Common Stock | 40,000 | |
Retained earnings | ||
Treasury stock | 50,000 | |
Dividends | 28,000 | |
Sales Revenue | 1,583,973 | |
Unrealized Holding Losses/Gains on Trading Securities-NI | ||
Advertising expense | 9,240 | |
Wages expense | 62,150 | |
Office expense | 54,083 | |
Depreciation expense | 124,900 | |
Utilities expense | 33,571 | |
Insurance expense | 45,833 | |
Income taxes expense | 47,667 | |
$ 3,233,829 | $ 3,233,829 | |
these are the adjusting entries
Adjusting Journal Entries | |||
Account Titles | Debit | Credit | |
Insurance Expense | 4,167 | ||
Prepaid Insurance | 4,167 | ||
Depreciation Expense | 12,490 | ||
Accumulated Depreciation (Building) | 1,657 | ||
Accumulated Depreciation (Equipment) | 10,833 | ||
Unearned Rent Revenue | 5,000 | ||
Rent Revenue | 5,000 | ||
Salaries & Wages Expense | 9,000 | ||
Salaries & Wages Payable | 9,000 | ||
Interest Expense | 583 | ||
Interest Payable | 583 | ||
Cost of Goods Sold | 300,000 | ||
Inventory | 50,000 | ||
Purchases during the year | 350,000 | ||
Loss Due to Decline of Inventory | 9,500 | ||
Allowance to Reduce Inventory to NRV | 9,500 | ||
Loss on Imparment | 35,000 | ||
Patent | 35,000 | ||
Cash | 30,000 | ||
Treasury Stock | 20,000 | ||
Paid In Capital - Treasury Stock | 10,000 | ||
Cash | 300,000 | ||
Common Stock | 20,000 | ||
Paid-In Capital in Excess of Par-Common Stock | 280,000 | ||
Interest Expense | 43,244 | ||
Premium on Bonds Payable | 6,756 | ||
Interest Payable | 50,000 | ||
Bad Debt Expense | 40,000 | ||
Allowance for Doubtful Accounts | 40,000 | ||
Fair Value Adjustment for XYZ stock | 25,000 | ||
Unrealised Holding Gain | 25,000 | ||
Equipment (Delivery Trucks) | 27,000 | ||
Accumulated Depreciation/equipment | 45,000 | ||
Loss on Exchange of Assets | 3,000 | ||
Equipment (Old) | 65,000 | ||
Cash | 10,000 | ||
Please let me know what else you need, Thank you
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