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Requirement 2. The ledger accounts with their unadjusted balances have been opened for you. Post the adjusting entries to the accounts. Calculate each account's balance
Requirement 2. The ledger accounts with their unadjusted balances have been opened for you. Post the adjusting entries to the accounts. Calculate each account's balance and enter the balance on the correct side of the account along with "Bal" label. Review the adjusting entries from requirement 1. Assets Stockholders' Equity Cash Common Stock Salary Expense 202,000 150,000 173,000 Ball Accounts Receivable Supplies Expense Retained Earnings 313,000 310,000 Depreciation Expense- Supplies Dividends Furniture and Fixtures 11,000 45,000 Depreciation Expense- Building Furniture and Fixures 110,000 0 Accumulated Depreciation- Furniture and Fixtures 20,000 Revenues Service Revenue 285,000 Income Tax Expense 0 Building Miscellaneous Expense 14,000 650,000 Accumulated Depreciation- Building 310,000 Liabilities Accounts Payable 400,000 Salary Payable Uneared Service Revenue 37,000 Income Tax Payable Adjusting Journal Entries (a) Dec 9,700 9,700 (b) Dec 19,000 lar 19,000 (c) Dec 16,000 16,000 (d) Dec 11,000 31 Supplies Expense Supplies To record supplies used. 31 Depreciation Expense Furniture and Fixtures Accumulated DepreciationFurniture and Fixtures To record depreciation expense on furniture and fixtures. 31 Depreciation ExpenseBuilding Accumulated Depreciation Building To record depreciation expense on building. 31 Salary Expense Salary Payable To accrue salary expense. 31 Accounts Receivable Service Revenue To accrue service revenue. 31 Unearned Service Revenue Service Revenue To record uneared service revenue that has been earned. 31 Income Tax Expense Income Tax Payable To accrue income tax expense. 11,000 (e) Dec 18,000 18,000 (1) Dec 30,000 30,000 (g) Dec 37,000 37,000 Done DIGUU
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