Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 2 (40 points) Yellow Service Company has the following unadjusted balances at year-end. Adjusted Trial Bal. Debit Credit YELLOW Service Company TRIAL BALANCE Dec.,

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Question 2 (40 points) Yellow Service Company has the following unadjusted balances at year-end. Adjusted Trial Bal. Debit Credit YELLOW Service Company TRIAL BALANCE Dec., 31, 2018 Unadjusted Trial Bal. Accounts Debit Credit Cash TL 51.600 Account Receivable Prepaid Insurance 8.000 Supplies 5.200 Equipment 42.000 Accumulated depreciation Equipment 14.000 Accounts payable 11.600 Salaries payable Unearned service revenue 18.000 Capital, Yellow 61.000 Withdrawals 22.400 Service revenue 39.400 Salary expense 14.800 Depreciation expense Insurance expense Supplies expense TOTAL TL 144.000 TL 144.000 The following information is available to use in making adjusting entries. 22400 39.400 14.800 Withdrawals Service revenue Salary expense Depreciation expense Insurance expense Supplies expense TOTAL TL 144.000 TL 144.000 The following information is available to use in making adjusting entries. a. Office supplies on hand at year-end, TL 3.200. b. Prepaid insurance expired during the year, TL 1.500. c. Unearned service revenue still unearned, TL 4.000. d. Depreciation expense for the year, TL 5.600. e. Accrued salaries at year-end, TL 2.900. f. Revenues earned but not billed totaled TL 15.500. Requirement: a) Please make the adjusting entries (5 points each) b) Prepare the Adjusted trial balance to the table above (10 points) LEDGER (T-ACCOUNTS) ADJUSTING JOURNAL ENTRIES A

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Accounting What The Numbers Mean

Authors: David Marshall, Wayne William McManus, Daniel Viele

6th Edition

0072834641, 978-0072834642

More Books

Students also viewed these Accounting questions

Question

A 300N F 30% d 2 m Answered: 1 week ago

Answered: 1 week ago