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The unadjusted trial balance of High Mountains Ltd. at August 31, 2020, appears in the solution step below. The adjustment data at August 31, 2020,
The unadjusted trial balance of High Mountains Ltd. at August 31, 2020, appears in the solution step below. The adjustment data at August 31, 2020, is provided (Click the icon to view the month-end adjustment data.) Requirements Requirement 1. Using the worksheet, prepare the adjusted trial balance of High Mountains Ltd at August 31, 2020. The unadjusted balances have been entered for you. Key each adjusting entry by letter Calculate the adjusted balance of each account, and then total the debit and credit columns in the adjusted trial balance. (Leave unused cells blank. Round your answers to the nearest whole number.) High Mountains Ltd. Trial Balance Worksheet August 31, 2020 Trial Balance Adjustments Account Debit Credit Debit Credit Cash 8,500 Accounts receivable 12,000 Accrued service revenue 2,700 Prepaid rent Supplies 1,800 Furniture 32.400 Accumulated depreciation 4,000 15,000 Accounts payable Salary payable Share capital 21 000 || Accounts receivable 12,000 BR Accrued service revenue Prepaid rent 2,700 Supplies 1,800 Furniture 32,400 Accumulated depreciation 4,000 Accounts payable 15.000 Salary payable 21.000 Share capital Retained earnings 12.900 Dividends 4,100 Service revenue 12,000 Salary expense 2,400 Rent expense Utilities expense 1,000 Depreciation expense Supplies expense 64.900 64.900 Total Month-end adjustment data Adjustment data at August 31, 2020. a. Accrued service revenue at August 31, $2,500 b. Prepaid rent expired during the month. The unadjusted prepaid balance of $2,700 relates to the period August through October. c. Supplies used during August, $1,800. d. Depreciation on furniture for the month. The estimated useful life of the furniture is three years. e. Accrued salary expense at August 31 for Monday, Tuesday, and Wednesday. The five-day weekly payroll of $5,100 will be paid on Friday, September 2
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