The trial balance of Nina's Novelty, Inc., at September 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. a. Insurance coverage still remaining at September 30, $900 Journal Entry Date Accounts Debit Credit Sep 30 b. Supplies used during the month, $250 Journal Entry Date Accounts Debit Credit Sep 30 c. Depreciation for the month, $1,200 Journal Entry Date Accounts Debit Credit Sep 30 d. Accrued utilities expense at September 30, $500 (use Accounts payable as the liability account needed) Journal Entry Date Accounts Debit Credit Sep 30 7 e. Accrued salaries at September 30, $1,100 Journal Entry Date Accounts Debit Credit Sep 30 f. Service revenue still unearned at September 30, $1,700 Journal Entry Date Accounts Debit Credit Sep 30 Requirement 2. The unadjusted balances have been entered in the T-accounts for you. Post the adjusting entries to the T-accounts. Reference the posted amounts by letters, (a) through (f). Calculate the adjusted balance for each account. (Use a "Bal" posting reference to show the ending balance of each account.) Review the adjusting entries from Requirement 1. Cash Accounts receivable Prepaid insurance Bal 22,500 Bal 18,500 Bal 3,100 Supplies Equipment Accumulated depreciation, Equip. Bal 1,400 Bal 59,000 Bal 33,900 Accounts payable Salaries payable Unearned service revenue Bal 3,300 Bal 2,400 Common stock Retained earnings Dividends Bal 25,000 Bal 28,900 Bal 8,100 Service revenue Salaries expense Insurance expense Bal 22,000 Bal 2,900 Depreciation expense, equipment Utilities expense Supplies expense Requirement 3. Prepare the adjusted trial balance at September 30, 2018. Review the T-accounts from Requirement 2. Nina's Novelty, Inc. Adjusted Trial Balance September 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 Nina's Novelty, Inc. Trial Balance September 30, 2018 Account Debit Credit Cash $ 22,500 Accounts receivable 18,500 3,100 Prepaid insurance Supplies 1,400 59,000 $ 33,900 Equipment Accumulated depreciation, equipment Accounts payable Salaries payable 3,300 Unearned service revenue 2,400 Common stock 25,000 Retained earnings 28,900 Dividends 8,100 Service revenue 22,000 Salaries expense 2,900 Insurance expense Depreciation expense, equipment Utilities expense Supplies expense $ 115,500 $ 115,500 Total a. Insurance coverage still remaining at September 30, $900 b. Supplies used during the month, $250 c. Depreciation for the month, $1,200 d. Accrued utilities expense at September 30, $500 (use Accounts payable as the liability account needed) Accrued salaries at September 30, $1,100 f. Service revenue still unearned at September 30, $1,700 e
