The trial balance of Media Link, Inc., at April 30, 2018, and the data needed for the month-end adjustments follow: Click the icon to view the trial balance.) (Click the icon to view the adjustment data.) Read the requirements. Requirement 1. Journalize the adjusting entries. (Record debits first, then credits. Exclude explanations from any journal entries.) a. Insurance coverage still remaining at April 30, $800 Journal Entry Date Accounts Debit Credit Apr b. Supplies used during the month, $1,000 Journal Entry Date Accounts Debit Credit Apr c. Depreciation for the month, $2,700 Journal Entry Date Accounts Debit Credit Apr Media Link, Inc. Trial Balance April 30, 2018 Account Debit Credit Cash $ 22,500 Accounts receivable 17,400 Prepaid insurance 2,800 1,100 Supplies Equipment Accumulated depreciation, equipment 95,500 $ 64,300 Accounts payable 1,900 Salaries payable Unearned service revenue Common stock 3,100 10,000 56,400 Retained earnings Dividends 5,200 Service revenue 12,300 Salaries expense 3,500 Insurance expense Depreciation expense, equipment Utilities expense Supplies expense $ 148,000 $ 148,000 Total a. Insurance coverage still remaining at April 30, $800 b. Supplies used during the month, $1,000 C. Depreciation for the month, $2,700 d. Accrued utilities expense at April 30, $200 (use Accounts payable as the liability account needed) e. Accrued salaries at April 30, $450 f. Service revenue still unearned at April 30, $1,300 d. Accrued utilities expense at April 30, $200 (use Accounts payable as the liability account needed) Journal Entry Date Accounts Debit Credit Apr e. Accrued salaries at April 30, $450 Journal Entry Date Accounts Debit Credit Apr f. Service revenue still unearned at April 30, $1,300 Journal Entry Date Accounts Debit Credit Apr Requirement 2. The unadjusted barcus have been gered in the T-accounts for you. Post the adjusting entries to the T-scounts Referenze the posted amounts by lullens, la) through Calculate the adjusted bakarce for each account. Use a "Bal posting reference to show the ending barce of each count) Review the cusing entries from Requrement 1 Accounts receivable Cash 22,500 Prepaid insurance 2.800 Bal Bel 17.400 II IL Supplies 1,100 Equipment 95.300 Accumulated depreciation, Equip Bal 64,300 Bal Accounts payable Salaries payable Uneamed service revenue Bal you Bal 3 3,100 Common stock Retained earning Bal Dividends 5.200 10,000 56,400 wa Service revenue Salarie expense Insurance expense B 12,900 Bal 3.500 Depreciation expense, equipment Utilities expense Supplies expense Requirement 3. Prepare the adjusted trial balance at April 30, 2018. Review the T-accounts from Requirement 2. Media Link, Inc. Adjusted Trial Balance April 30, 2018 Account Debit Credit Total Requirement 4. How will the company use the adjusted trial balance? The company will use the adjusted trial balance to calculate taxes dues plan the next year's budget prepare financial statements report net income or loss
