Question
The unadjusted trial balance of Vale Ltd as at 31 December 2021: Vale Ltd Unadjusted Trial Balance as at 31 Dec 2021 Account Debit Credit
The unadjusted trial balance of Vale Ltd as at 31 December 2021:
Vale Ltd | ||
Unadjusted Trial Balance as at 31 Dec 2021 | ||
Account | Debit | Credit |
$ | $ | |
Cash | 78,250 |
|
Accounts receivable | 150,180 |
|
Prepaid insurance | 123,448 |
|
Supplies | 100,199 |
|
Building | 150,242 |
|
Accumulated depreciation |
| 94,735 |
Accounts payable |
| 177,218 |
Salary payable |
| 120,542 |
Unearned service revenue |
| 73,673 |
Beginning capital (1 Jan 2021) |
| 775,709 |
Drawings | 58,671 |
|
Service revenue |
| 190,371 |
Salary expense | 153,317 |
|
Insurance expense | 185,485 |
|
Depreciation expense | 197,963 |
|
Advertising expense | 84,379 |
|
Supplies expense | 150,114 |
|
Total | $1,432,248 | $1,432,248 |
Adjustment data as at 31 December follows:
- Prepaid insurance left unused is $100,000
- Supplies used during the month, $6,000
- Depreciation for the month, $9,000
- The unearned service revenue balance is to be $30,000 due to work done.
Required:
Journalise the adjusting entries. Ignore GST. (Explanations not required)
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