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Swordfish Programming is owned by Luke Kulak and provides computer solutions to the hospitality industry. At the end of June 2021, they had the following
Swordfish Programming is owned by Luke Kulak and provides computer solutions to the hospitality industry. At the end of June 2021, they had the following adjustments. Jun 30 Interest of $480 had accrued on the bank loan. Jun 30 The balance of prepaid rent is for a 12-month lease, one month of rent has been used. Jun 30 During June, Swordfish Programming earned $600 of unearned revenue. Jun 30 The computers were purchased on June 1, 2021 and have an expected useful life of five years, after which they will have no residual value. Record depreciation for June Required Using the following trial balance, complete the adjustments and the adjusted trial balance in the worksheet. Do not enter dollar signs or commas in the inout boxes. Swordfish Programming Worksheet June 30, 2021 Unadjusted Trial Balance Account DR CR Cash 3,800 Accounts Receivable 2,880 Prepaid Rent 16,800 Computers 7,200 Accumulated Depreciation-Computers Accounts Payable Interest Payable 2,300 Unearned Revenue 3,600 Bank Loan 3,100 Kulak, Capital 19,540 Kulak, Withdrawals 1,290 5,150 Service Revenue Depreciation Expense Rent Expense Interest Expense Insurance Expense 1,410 Telephone Expense 310 Total 33,690 33,690 DR Adjustments Adjusted Trial Balance CR DR CR
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