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Thank You! The unadjusted trial balance for Novak Corp. is shown below. Assets Liabilities Acc. Accts. Prepd. Depr.- Notes Cash + Rec. + Supplies +
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The unadjusted trial balance for Novak Corp. is shown below. Assets Liabilities Acc. Accts. Prepd. Depr.- Notes Cash + Rec. + Supplies + Insur. + Equip. . Equip. = Pay. + Bal. 16,050 0 2,940 720 5,500 0 5,500 Accts. Int. Unearned Pay. + Pay. + Serv. Rev. + 2,190 0 2,180 Sal. & Wages Pay. Con + Stoc 0 11,8- Assume the following adjustment data. 1. Supplies on hand at October 31 total $600. 2. Expired insurance for the month is $120. 3. Depreciation for the month is $90. 4. As of October 31, services worth $960 related to the previously recorded unearned revenue had been performed. 5. Services performed but unbilled (and no receivable has been recorded) at October 31 are $350. 6. Interest expense accrued at October 31 is $85. 7. Accrued salaries at October 31 are $1,480. Prepare a tabular summary to record adjustments for the items above using the summary that follows. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) + Stockholders' Equity Reatined Earnings E Com. + Stock + Rev. - Exp. - Div 0 11,840 13,700 -9,530 -670Step by Step Solution
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