Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The trial balance for Pioneer Advertising is shown below. Pioneer Advertising Trial Balance October 31, 2017 Debit Credit Cash $ 15,200 2,500 600 5,000 $5,000

image text in transcribed

The trial balance for Pioneer Advertising is shown below. Pioneer Advertising Trial Balance October 31, 2017 Debit Credit Cash $ 15,200 2,500 600 5,000 $5,000 2,500 Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Unearned Service Revenue Owner's Capital Owner's Drawings Service Revenue Salaries and Wages Expense Rent Expense 1,200 10,000 500 10,000 4,000 900 $28,700 $28,700 You are provided with the following adjustment data. 1. Supplies on hand at October 31 total $500. 2. Expired insurance for the month is $120. 3. Depreciation for the month is $50. 4. Services related to unearned service revenue in October worth $600 were performed. 5. Services performed but not recorded on October 31 are $360. 6. Interest accrued on October 31 is $95. 7. Accrued salaries on October 31 are $1,625. Instructions: Prepare the adjusting entries for the items above

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

Step: 3

blur-text-image

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

GMP Audit Trainer Good Manufacturing Practices Made Easy

Authors: Mr Brendan Cooper

1st Edition

1548711934, 978-1548711931

More Books

Students also viewed these Accounting questions