Answered step by step
Verified Expert Solution
Question
1 Approved Answer
PR 3-4A Adjusting entries Good Note Company specializes in the repair of music equipment and is owned and operat by Robin Stahl. On November 30,
PR 3-4A Adjusting entries Good Note Company specializes in the repair of music equipment and is owned and operat by Robin Stahl. On November 30, 2018, the end of the current year, the accountant for Note prepared the following trial balances: Obj. 2, 3, 4, 5, 6 GENERAL LEDGER ed Good Note Company Trial Balances November 30, 2018 Adjustecd Debit Unadjusted Debit Credit Credit Balances Balances Balances Balances Cash .. 38,250 89,500 38,250 89,500 2,400 Prepaid Insurance.. 14,250 290,450 290,450 Accumulated Depreciation-Equipment Automobiles 94,500 106,100 129,500 Accumulated Depreciation-Automobiles 54,750 24,930 62,050 26,130 Unearned Service Fees.. . Common Stock .. . . Retained Earnings . 18,000 100,000 224,020 8,100 9,000 100,000 224,020 . 75,000 Service Fees Earned.. 733,800 742,800 . . 516,900 525,000 Rent Expense . 54,000 8,850 11,600 7,300 14,100 8,175 Depreciation Expense-Equipment... Depreciation Expense-Automobiles Utilities Expense 12,900 8,175 Insurance Expense 10,400 9,825 9,825 1.250,000 1.250,000 1.278,200 1.278.200 Instructions Journalize the seven entries that adjusted the accounts at November 30. None of the accounts were affected by more than one adjusting entry
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