Question
The trial balances shown below are before and after adjustment for Pharoah Company at the end of its fiscal year. PHAROAH COMPANY Trial Balance August
The trial balances shown below are before and after adjustment for Pharoah Company at the end of its fiscal year.
PHAROAH COMPANY Trial Balance August 31, 2017 | ||||||||
---|---|---|---|---|---|---|---|---|
Before Adjustment | After Adjustment | |||||||
Dr. | Cr. | Dr. | Cr. | |||||
Cash | $11,050 | $11,050 | ||||||
Accounts Receivable | 9,120 | 9,700 | ||||||
Supplies | 2,610 | 1,400 | ||||||
Prepaid Insurance | 4,030 | 2,670 | ||||||
Equipment | 16,840 | 16,840 | ||||||
Accumulated DepreciationEquipment | $3,789 | $4,989 | ||||||
Accounts Payable | 5,800 | 5,800 | ||||||
Salaries and Wages Payable | 0 | 1,650 | ||||||
Unearned Rent Revenue | 1,850 | 1,070 | ||||||
Common Stock | 18,360 | 18,360 | ||||||
Retained Earnings | 5,160 | 5,160 | ||||||
Dividends | 2,980 | 2,980 | ||||||
Service Revenue | 34,000 | 34,580 | ||||||
Rent Revenue | 12,580 | 13,360 | ||||||
Salaries and Wages Expense | 16,350 | 18,000 | ||||||
Supplies Expense | 0 | 1,210 | ||||||
Rent Expense | 18,559 | 18,559 | ||||||
Insurance Expense | 0 | 1,360 | ||||||
Depreciation Expense | 0 | 1,200 | ||||||
$81,539 | $81,539 | $84,969 | $84,969 |
Prepare 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.)
Date | Account Titles and Explanation | Debit | Credit |
---|---|---|---|
Aug. 31 | enter an account title to record the service revenue | enter a debit amount | enter a credit amount |
enter an account title to record the service revenue | enter a debit amount | enter a credit amount | |
(To record the service revenue) | |||
Aug. 31 | enter an account title to record the supplies expense | enter a debit amount | enter a credit amount |
enter an account title to record the supplies expense | enter a debit amount | enter a credit amount | |
(To record the supplies expense) | |||
Aug. 31 | enter an account title to record the insurance expense | enter a debit amount | enter a credit amount |
enter an account title to record the insurance expense | enter a debit amount | enter a credit amount | |
(To record the insurance expense) | |||
Aug. 31 | enter an account title to record the depreciation expense | enter a debit amount | enter a credit amount |
enter an account title to record the depreciation expense | enter a debit amount | enter a credit amount | |
(To record depreciation expense) | |||
Aug. 31 | enter an account title to record salaries and wages expense | enter a debit amount | enter a credit amount |
enter an account title to record salaries and wages expense | enter a debit amount | enter a credit amount | |
(To record salaries and wages expense) | |||
Aug. 31 | enter an account title to record the rent revenue | enter a debit amount | enter a credit amount |
enter an account title to record the rent revenue | enter a debit amount | enter a credit amount | |
(To record rent revenue) |
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