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The unadjusted trial balance and information regarding adjusting entries for Beckys Carpets, Inc., is given below. Prepare the financial statements for Beckys Carpet Inc., after
- The unadjusted trial balance and information regarding adjusting entries for Beckys Carpets, Inc., is given below. Prepare the financial statements for Beckys Carpet Inc., after making the necessary adjustments
Beckys Carpets, Inc.,
Unadjusted Trial Balance
December 31, 2019
Accounts | Debit | Credit |
| 25,500 |
|
Accounts receivable | 15,000 |
|
Supplies | 4,500 |
|
Prepaid Insurance | 5,000 |
|
Equipment | 89,000 |
|
Accumulated depreciation - Equipment |
| 6,000 |
Accounts payable |
| 1,800 |
Unearned service revenue |
| 3,700 |
Common stock |
| 93,200 |
Retained earnings |
| 21,000 |
Service revenue |
| 30,700 |
Salary expense | 15,700 |
|
Advertising expense | 1,700 |
|
| 156,400 | 156,400 |
Adjusting entry information:
- Salaries earned but unpaid at the end of the year, $1,500
- Insurance expired, 700
- Depreciation expense, 800
- Unearned service revenue earned during the year, $1,500
- The inventory of supplies at year end was $3,400
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