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requirements adjusted trial balance from what is given SMS CONSTRUCTION COMPANY Unadjusted Trial Balance June 30 Numbe r Account Title 101 Cash 126 Supplies 128
requirements adjusted trial balance from what is given
SMS CONSTRUCTION COMPANY Unadjusted Trial Balance June 30 Numbe r Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 201 203 208 210 213 Property taxes payable 251 Long-term notes payable 301 S. Smith, Capital 302 S. Smith, Withdrawals 403 Construction revenue 612 Depreciation expense-Equipment 623 633 637 640 652 Accounts payable Interest payable Rent payable Wages payable Wages expense Interest expense Insurance expense Rent expense Supplies pense Debit $ 18,000 10,000 7,000 140,550 33,000 0 41,000 2,750 0 11,000 0 Credit $ 25,500 5,600 0 0 0 0 25,000 78,100 139,000 683 Property taxes expense 684 Repairs expense 690 Utilities expense Totals Adjustments: 4,400 2,500 3,000 $ 273,200 a. Supplies available at the end of the current fiscal year total $3,600. b. Cost of expired insurance for the current fiscal year is $4,410. $ 273,200 c. Annual depreciation on equipment is $8,600. d. June utilities expense of $560 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $560 amount owed must be recorded. e. Employees have earned $1,600 of accrued and unpaid wages at fiscal year-end. f. Rent expense incurred and not yet paid or recorded at fiscal year-end is $400. g. Additional property taxes of $1,000 have been assessed for this fiscal year but have not been paid or recorded at fiscal year-end. h. $250 of accrued interest for June has not yet been paid or recorded Step by Step Solution
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