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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

  1. 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:

  1. Salaries earned but unpaid at the end of the year, $1,500
  2. Insurance expired, 700
  3. Depreciation expense, 800
  4. Unearned service revenue earned during the year, $1,500
  5. The inventory of supplies at year end was $3,400

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