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Requirement 1. Joumalize the adjusting entries. (Record debits first, then credits. Select the explanation on the last a. As of December 31, Pikeville had $500
Requirement 1. Joumalize the adjusting entries. (Record debits first, then credits. Select the explanation on the last a. As of December 31, Pikeville had $500 of Prepaid Insurance remaining. Date Accounts and Explanation Debit Credit (a) Dec. 31 Pikeville Inn Company Unadjusted Trial Balance December 31, 2018 tabl Balance Account Title Debit Credit Cash $ 14,500 14,600 3,600 1,200 520,000 Accounts Receivable Prepaid Insurance Office Supplies Building Accumulated Depreciation Building Accounts Payable Salaries Payable Unearned Revenue $ 340,000 2,500 3,000 Common Stock 197,980 Dividends 2,170 Prepaid Insurance 3,600 1,200 520,000 Office Supplies Building Accumulated Depreciation Building Accounts Payable Salaries Payable $ 340,000 2,500 Unearned Revenue 3,000 Common Stock 197,980 Dividends 2,170 16,300 3,000 Service Revenue Salaries Expense Insurance Expense Depreciation Expense Building Advertising Expense Supplies Expense 710 $ Total 559,780 $ 559,780 i More Info Adjustment data at December 31 follow: a: As of December 31, Pikeville had $500 of Prepaid Insurance remaining. b. At the end of the month, Pikeville had $700 of office supplies remaining, c. Depreciation on the building is $1,800. d. Pikeville pays its employees weekly on Friday. Its employees earn $2,500 for a five-day workweek. December 31 falls on Wednesday this year. e. On November 20, Pikeville contracted to perform services for a client receiving $3,000 in advance. Pikeville recorded this receipt of cash as Unearned Revenue. As of December 31, Pikeville has $2,500 still unearned. Print Done
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