Question
The One Financial Consultancy has prepared the following unadjusted trial balance at July 31, 2019 The One Financial Consultancy Co. Unadjusted Trial Balance July 31,
The One Financial Consultancy has prepared the following unadjusted trial balance at July 31, 2019
The One Financial Consultancy Co.
Unadjusted Trial Balance
July 31, 2019
Debit Balances Credit Balances
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 35,200
Prepaid Rent . . .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,250
Supplies . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,750
Automobile . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98,300
Accumulated DepreciationAutomobile . . . . . . . . . . . . . . . . . . . . . .. .. . . . . . . .93,750
Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85,250
Accumulated DepreciationEquipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27,500
Unearned Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,200
Jennys, Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 160,000
Jennys, Drawing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,500
Fees Earned . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 145,000
earned Rent . . . . . . . . . . . . .. . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35,500
Rent Expense . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . 11,400
Repairs Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,250
The data needed to determine year-end adjustments are as follows:
- Depreciation for Automobile for the year was $3,750
- Accrued wages at July 31 is $1750
- Unexpired rent at July 31 $2000
- Supplies on hand at July 31 $1600
- Rent earned at July 31 $1200
Requirements:
- 1. Journalize the adjusted entry require base on the above information
- 2. Prepare Adjusted Trail Balance at July 31 2019
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From Zero To Zen Secret Keys To Nurturing Your Numbers And Finding Financial Flow
Authors: Liz Lajoie
1st Edition
1683507045, 978-1683507048
