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The following are the trial balance and the other information related to Steven Consulting Engineer. Credit 57.100 $824 STEVEN CONSULTING ENGINEER TRIAL BALANCE DECEMBER 31,
The following are the trial balance and the other information related to Steven Consulting Engineer. Credit 57.100 $824 STEVEN CONSULTING ENGINEER TRIAL BALANCE DECEMBER 31, 2020 Debit Cash $29,500 Accounts Receivable Allowance for Doubtful Accounts Supplies 2,300 Prepaid Insurance 1,140 Equipment 25,800 Accumulated Depreciation Equipment Notes Payable Common Stock Retained Earnings Service Revenue Rent Expense 10,712 Salaries and Wages Expense 34,730 Utilities Expenses 1.420 Office Expense $163,312 5,890 7.200 10,000 23.427 115.971 610 $163,312 1 Fees received in advance from clients $5,520, which were recorded as revenue. 2 Services performed for clients that were not recorded by December 31, $4,913. 3. Bad debt expense for the year is $1,366. 4. Insurance expired during the year $476 5. Equipment is being depreciated at 10% per year. 6 Steven gave the bank a 90-day, 10% note for $7.200 on December 1, 2020 7. Rent of the building is $824 per month. The rent for 2020 has been paid, as has that for January 2021, and recorded as Rent Expense. & Office salaries and wages earned but unpaid December 31, 2020, $2.749. From the trial balance and other information given, prepare annual adjusting entries as of December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required. select "No entry for the account titles and enter for the amounts.)
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