Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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_2

Step: 3

blur-text-image_3

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

Management Policies In Local Government Finance

Authors: Icma Staff

5th Edition

0873267729, 978-0873267724

More Books

Students also viewed these Accounting questions

Question

1. Identify what positions are included in the plan.

Answered: 1 week ago

Question

2. Identify the employees who are included in the plan.

Answered: 1 week ago