Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please help solve the hightlighted questions in order on excel or google sheets! will give thumbs up immediately. Acctg1A HW chap 3 Example Co was
please help solve the hightlighted questions in order on excel or google sheets! will give thumbs up immediately.
Acctg1A HW chap 3 Example Co was just started in Dec and this is the unadjusted Trial Balance Example Company Number 3 Adjust the Trial Balance Trial Balance Dec 31, 2020 Number 1 Put the Trial Balance into accounts Debit Credit Cash $ 6,000 Accounts Receivable $ 8,000 Prepaid Insurance $ 12,000 Supplies $ 4,500 Buildings $ 50,000 Accounts Payable $ 7,000 Mortgage payable $ 20,000 Unearned Rent Revenue $ 14,000 Common stock $ 20,000 Retained earnings $ 10,000 Rent revenue $ 20,000 Salary Expense $ 7,500 Rent Expense $ 2,000 Utilities Expense $ 1,000 $ 91,000 $ 91,000 Totals Number 2 Make the following adjustment journals and add to the T accounts 1 A count of supplies shows we have $3,000 remaining. Adjust the Supplies account 2 Depreciation on the building for the month is $500. Record the depreciation for Dec. 3 The mortage payable is a loan 6%/yr. Record Dec. Interest 4 We can recognize 7,000 of the unearned rent Revenue this month. Make the journal. 5 the Prepaid insurance of 12,000 is for 6 months. Record one month adjustment Account Debit Credit 1 2 3 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started