Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Quick Turn Boat has completed its journal entries for the month of March and posted them to the general ledger. Based on the ledger balances,

Quick Turn Boat has completed its journal entries for the month of March and posted them to the general ledger. Based on the ledger balances, an adjusted trial balance has been prepared. The following adjustments must be made at the end of March.
Mar 31 Depreciation on equipment for the month is $340.
Mar 31 Prepaid insurance of $970 has been used up this month.
Mar 31 Interest of $280 accrued on the bank loan.
Mar 31 Unearned revenue of $650 has now been earned.
Required
Complete the worksheet.
Do not enter dollar signs or commas in the input boxes.
Select the proper order for the headings of the worksheet.
Answer
Quick Turn Boat
Answer
Worksheet
Answer
March 31,2022
Unadjusted Trial Balance Adjustments Adjusted Trial Balance
Account DR CR DR CR DR CR
Cash 9,000 Answer
Answer
Answer
Answer
Accounts Receivable 7,700 Answer
Answer
Answer
Answer
Prepaid Insurance 1,700 Answer
Answer
Answer
Answer
Equipment 63,900 Answer
Answer
Answer
Answer
Accumulated Depreciation 680 Answer
Answer
Answer
Answer
Accounts Payable 8,500 Answer
Answer
Answer
Answer
Interest Payable Answer
Answer
Answer
Answer
Unearned Revenue 6,600 Answer
Answer
Answer
Answer
Bank Loan 11,300 Answer
Answer
Answer
Answer
Crews, Capital 55,260 Answer
Answer
Answer
Answer
Crews, Withdrawals 900 Answer
Answer
Answer
Answer
Service Revenue 3,200 Answer
Answer
Answer
Answer
Advertising Expense 750 Answer
Answer
Answer
Answer
Depreciation Expense Answer
Answer
Answer
Answer
Insurance Expense Answer
Answer
Answer
Answer
Interest Expense Answer
Answer
Answer
Answer
Salary Expense 1,590 Answer
Answer
Answer
Answer
Total 85,54085,540 Answer

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

BondsA Concise Guide For Investors

Authors: M. Choudhry

2nd Edition

0230006493, 9780230006492

More Books

Students also viewed these Accounting questions

Question

1. Follow directions the first time.

Answered: 1 week ago