Question
The trial balances shown below are before and after adjustment forIvanhoe Companyat the end of its fiscal year.IVANHOE COMPANYTrial BalanceAugust 31, 2022BeforeAdjustmentAfterAdjustmentDr.Cr.Dr.Cr.Cash$11,860$11,860Accounts Receivable8,2108,960Supplies2,8401,780Prepaid Insurance4,4303,200Equipment16,00016,000Accumulated Depreciation?Equipment$3,600$4,800Accounts
The trial balances shown below are before and after adjustment forIvanhoe Companyat the end of its fiscal year.IVANHOE COMPANYTrial BalanceAugust 31, 2022BeforeAdjustmentAfterAdjustmentDr.Cr.Dr.Cr.Cash$11,860$11,860Accounts Receivable8,2108,960Supplies2,8401,780Prepaid Insurance4,4303,200Equipment16,00016,000Accumulated Depreciation?Equipment$3,600$4,800Accounts Payable5,9505,950Salaries and Wages Payable01,550Unearned Rent Revenue1,8401,080Common Stock11,27011,270Retained Earnings5,8005,800Dividends2,7202,720Service Revenue34,00034,750Rent Revenue12,10012,860Salaries and Wages Expense16,45018,000Supplies Expense01,060Rent Expense12,05012,050Insurance Expense01,230Depreciation Expense01,200$74,560$74,560$78,060$78,060Prepare the adjusting entries that were made.(If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
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