Transactions Prepaid Rent Dec. 1 Issued common stock for $21,800 cash Date Explanation Ref Debit Credit Balance 2 Balance D 0 3 Dec. 5 Paid rent in advance 11700 5 Dec 31 Adjusting Entry rent expired 2400 3300 10 Furniture 15 Billed clients for $12,400 of work performed Received payment of $8,400 in advance for work to be performed. Paid rent in advance of $11,700 to cover December through March rent. Bought furniture paying $3.000 cash and $7,400 notes payable. Received $7,400 from accounts receivable. Incurred salaries expense of $15,600 to be paid at a future date, Paid $550 toward their Accounts Payable Made an adjustment for revenue of $8.400 that was prepaid and had been earned. Ad usted for rent expired during December Ad usted for depreciation on furniture, Date Explanation Ref. Debit Credit Balance 15 Balance 19,300 19,200 16 Dec 10 Bought furniture 22300 31 Accumulated Depreciation - Furniture 31 Date Explanation Rel Debit Credit Balance 31 Balance 4.300 4,200 Dec 31 Adjusting Entry-depreciation 380 3920 31 Paid salaries payable and ncurred another $15,600 of salaries expense to be paid next month. Post the salaries paid first. HERRER Dahin 31 Paid $3,500 in Dividends. CHECK ANSWER RESET Incorrect. Try reviewing the Hint to better understand the goal of this activity, Transactions Accounts Payable Dec. 1 Issued common stock for $21,800 cash Date Explanation Ref. Debit Credit Balance 2 Balance 7,700 7,700 3 Dec. 10 Paid on accounts payable 550 8250 5 10 Salaries Payable Date Explanation Rer 15 Debit Credit Balance Balance 0 15 Billed clients for $12,400 of work performed Received payment of $3,400 in advance for work to be performed Paid rent in acvance of $11,700 to cover December through March rent Bought furniture paying $3,000 cash and $7,400 notes payable. Received $7,400 from accounts receivable. incurred salaries expense of $15,600 to be paid at a future date Pald S550 toward their Accounts Payable Made an adjustment for revenue of $8,400 that was prepaid and had beer earned. Adjusted for rent expired during December Adjusted for depreciation on furniture, $380. Paid salares payable and incurred another $15,600 of salaries expense to be paid next month. Post the salaries paid first. Dec, 15 V incurred salaries expense 550 550 Dec 31 Incurred salaries expense 550 1100 31 Den 1 Paid salaries ayattle 550 31 Unearned Revenue 31 Date Explanation Ref. Debit Credit Balance 31 Balance 0 0 Dec 3 Received cash in advance for service to 8400 8400 31 Paid $3.500 in Dividends. CHECK ANSWER RESET Incorrect. Try reviewing the Hint to better understand the goal of this activity. Transactions Unearned Revenue 1 Issued common stock for $21,600 cash. Date Explanation Ref. Debit Credit Balance 2 Balance 0 0 3 Dec 3 v Received cash in advance for service to 8400 8400 5 Dec 31 Earned prepaid revenue 8400 16800 10 Notes Payable 15 Date Explanation Ref. Debit Credit Balance 15 Billed clients for $12,400 of work performed Received payment of SR.400 in advance for work to be performed Paid rent in advance of 511,700 to cover December through March rent Bought fumiture, paying $3.000 cash and S7,400 notes payable Received $7.400 from accounts receivable. Incurred salaries expense of $ 5,500 to be paid at a future date Paid S550 toward their Accounts Payable Made an adjustment for revenue of $8,400 that was prepaid and had been earned. Adjusted for rent expired during December Adjusted for depreciation on furniture, $380 Paid Salaries payable and incurred another $15,600 of salaries experise to be paid next month, Post the salaries paid first Balance 23.500 23,500 16 Dec 10 Bought furniture 3000 20500 31 Common Stock 31 Date Explanation Ref. Debit Credit Balance 31 Balance 4,800 4.800 Dec 1 12400 Issued common stock 31 -7600 31 Paid 53,500 in Dividends. CHECK ANSWER RESET Incorrect. Try reviewing the Hint to better understand the goal of this activity, Transactions Dividends Dec. 1 Issued common stock for $21,800 cash. Date Explanation Ref. Debit Credit Balance 2 Balance 0 0 2 Dec. 31 Received cash in advance for service to 5 Service Revenue 10 Date Explanation Ref. Debit Credit Balance 15 Balance 0 0 15 Dec 2 Collected on accounts receivable Billed clients for $12,400 of work performed Received payment of $8.400 in advance for work to be performed. Paid rent in advance of 511,700 to Cover December through March rent Bought fumiture, paying $3.000 cash and S7,400 nutes payable Received $7,400 from accounts receivable, Incurred salaries expense of $ 5,500 to be paid at a future date. Paid $550 toward their Accounts Payable. Made an adjustment for revenue of $8,400 that was prepaid and had been earned. Adjusted for rent expired during December Adjusted for depreciation on furniture, $380 Paid salaries payable and incurred another $15,600 of salaries expense to be paid next month. Post the salaries paid first. 16 Dec 31 Paid rent in advance 31 Depreciation Expense - Furniture 31 Date Explanation Ref. Debit Credit Balance 31 Balance 0 Dec 3 Adjusting Entry-depreciation 8400 8400 31 NARAN 31 Paid $3,500 in Dividends CHECK ANSWER RESET Incorrect. Try reviewing the Hint to better understand the goal of this activity. Transactions Rent Expense Dec 1 Issued common stock for $21,800 cash. Date Explanation Ref. Debit Credit Balance 2 Balance 0 0 3 Dec.3 Ad usting Entry-rent expired 5 Salaries Expense 10 Dale Explanation Rel Debit Credit Balance 15 Balance 0 15 Dec. 1 Incurred salaries expense 21800 21800 Billed clients for $12,400 of work performed. Received payment of $8,400 in advance for work to be performed. Paid rent in advance of $11,700 to cover December through March rent. Bought furniture, paying 13,000 cash and $7,400 notes payable. Received $7,100 from accounts Neceive receivable Incurred salaries expense of $15,000 to be paid at a future date. Paid $550 toward their Accounts Payable. Made an adjustment for revenue of $8.400 that was prepaid and had been carned Adjusted for rent expired during December Adjusted for lepreciation on furniture, $380 Poid salaries payabile and incurred another $15,600 of salaries expense to be paid next month. Post the salaries paid first. 16 Dec 3 Incurred salanes expense 21800 43600 31 Smart Touch Learning Adjusted Trial Balance December 31, 2016 31 31 Balance Account Title Debit Credit 31 Cash 31 Paid $3,500 in Dividends. CHECK ANSWER S RESET Incorrect. Try reviewing the Hint to better understand the goal of this activity, Transactions Dec, 1 Incurred salaris expense 21800 218DD Dec. 1 Issued common stock for $21,800 cash. Dec 3 Incurred salaries expense 2180p 43600 2 3 Smart Touch Learning Adjusted Trial Balance December 31, 2016 3 Balance 10 Account Title Debit Credit 15 15 Billed clients for $12,400 of work performed Received payment of $8.400 in advance for work to be performed. Paid rent in advance of $11,700 to cover December through March rent Raught furniture, paying $3,000 rash and 57,400 notes payable. Received $7,40D from accounts receivable Incurred salaries expense of S-5,500 to be paidal a future date, Paid $550 toward their Accounts Payable Made an adjustment for revenue of $8,400 that was prepaid and had been earned Adjusted for rent expired during December Adjusted for depreciation on furniture, $380 Paid salaries payable and incurred another $15,600 of salaries expense to be paid next month. Post the salaries paid first. Accounts Receivable 16 Prepaid Rent 31 Furniture Accurrulated Depreciation Furniture 31 Accounts Payabile 31 Salaries Payable 31 Notes Payable 31 Paid $3.505 in Dividends. CHECK ANSWER RESET O Incorrect. Try reviewing the Hint to better understand the goal of this activity. Transactions Dec. 1 Incurred salaris expense 21800 2130D Dec. 1 Issued common stock for $21,800 cash. Dec 3 Incurred salaries expense 21800 43600 2 Furniture 3 Arrurmulated Depreciation Furniture 3 Accounts Payabile 10 Salaries Payable 15 Notes Payable 15 Carmen Sex Billed clients for $12,400 of work performed Received payment of $8.400 in advance for work to be performed. Paid rent in advance of $11,700 to cover December through March rent Raught furniture, paying $3,000 rash and 57,400 notes payable. Received $7,40D from accounts receivable Incurred salaries expense of $ 5,500 to be paidal a future date, Paid $550 toward their Accounts Payable Made an adjustment for revenue of $8,400 that was prepaid and had been earned Adjusted for rent expired during December Adjusted for depreciation on furniture, $380 Paid salaries payable and incurred another $15,600 of salaries expense to be paid next month. Post the salaries paid first. Dividends 16 Service Revenue 31 Depreciation Expense Furniture 31 Rent Fxpense 31 Salaries Expense Total 31 31 Paid $3.505 in Dividends. CHECK ANSWER RESET Incorrect. Try reviewing the Hint to better understand the goal of this activity. Transactions Prepaid Rent Dec. 1 Issued common stock for $21,800 cash Date Explanation Ref Debit Credit Balance 2 Balance D 0 3 Dec. 5 Paid rent in advance 11700 5 Dec 31 Adjusting Entry rent expired 2400 3300 10 Furniture 15 Billed clients for $12,400 of work performed Received payment of $8,400 in advance for work to be performed. Paid rent in advance of $11,700 to cover December through March rent. Bought furniture paying $3.000 cash and $7,400 notes payable. Received $7,400 from accounts receivable. Incurred salaries expense of $15,600 to be paid at a future date, Paid $550 toward their Accounts Payable Made an adjustment for revenue of $8.400 that was prepaid and had been earned. Ad usted for rent expired during December Ad usted for depreciation on furniture, Date Explanation Ref. Debit Credit Balance 15 Balance 19,300 19,200 16 Dec 10 Bought furniture 22300 31 Accumulated Depreciation - Furniture 31 Date Explanation Rel Debit Credit Balance 31 Balance 4.300 4,200 Dec 31 Adjusting Entry-depreciation 380 3920 31 Paid salaries payable and ncurred another $15,600 of salaries expense to be paid next month. Post the salaries paid first. HERRER Dahin 31 Paid $3,500 in Dividends. CHECK ANSWER RESET Incorrect. Try reviewing the Hint to better understand the goal of this activity, Transactions Accounts Payable Dec. 1 Issued common stock for $21,800 cash Date Explanation Ref. Debit Credit Balance 2 Balance 7,700 7,700 3 Dec. 10 Paid on accounts payable 550 8250 5 10 Salaries Payable Date Explanation Rer 15 Debit Credit Balance Balance 0 15 Billed clients for $12,400 of work performed Received payment of $3,400 in advance for work to be performed Paid rent in acvance of $11,700 to cover December through March rent Bought furniture paying $3,000 cash and $7,400 notes payable. Received $7,400 from accounts receivable. incurred salaries expense of $15,600 to be paid at a future date Pald S550 toward their Accounts Payable Made an adjustment for revenue of $8,400 that was prepaid and had beer earned. Adjusted for rent expired during December Adjusted for depreciation on furniture, $380. Paid salares payable and incurred another $15,600 of salaries expense to be paid next month. Post the salaries paid first. Dec, 15 V incurred salaries expense 550 550 Dec 31 Incurred salaries expense 550 1100 31 Den 1 Paid salaries ayattle 550 31 Unearned Revenue 31 Date Explanation Ref. Debit Credit Balance 31 Balance 0 0 Dec 3 Received cash in advance for service to 8400 8400 31 Paid $3.500 in Dividends. CHECK ANSWER RESET Incorrect. Try reviewing the Hint to better understand the goal of this activity. Transactions Unearned Revenue 1 Issued common stock for $21,600 cash. Date Explanation Ref. Debit Credit Balance 2 Balance 0 0 3 Dec 3 v Received cash in advance for service to 8400 8400 5 Dec 31 Earned prepaid revenue 8400 16800 10 Notes Payable 15 Date Explanation Ref. Debit Credit Balance 15 Billed clients for $12,400 of work performed Received payment of SR.400 in advance for work to be performed Paid rent in advance of 511,700 to cover December through March rent Bought fumiture, paying $3.000 cash and S7,400 notes payable Received $7.400 from accounts receivable. Incurred salaries expense of $ 5,500 to be paid at a future date Paid S550 toward their Accounts Payable Made an adjustment for revenue of $8,400 that was prepaid and had been earned. Adjusted for rent expired during December Adjusted for depreciation on furniture, $380 Paid Salaries payable and incurred another $15,600 of salaries experise to be paid next month, Post the salaries paid first Balance 23.500 23,500 16 Dec 10 Bought furniture 3000 20500 31 Common Stock 31 Date Explanation Ref. Debit Credit Balance 31 Balance 4,800 4.800 Dec 1 12400 Issued common stock 31 -7600 31 Paid 53,500 in Dividends. CHECK ANSWER RESET Incorrect. Try reviewing the Hint to better understand the goal of this activity, Transactions Dividends Dec. 1 Issued common stock for $21,800 cash. Date Explanation Ref. Debit Credit Balance 2 Balance 0 0 2 Dec. 31 Received cash in advance for service to 5 Service Revenue 10 Date Explanation Ref. Debit Credit Balance 15 Balance 0 0 15 Dec 2 Collected on accounts receivable Billed clients for $12,400 of work performed Received payment of $8.400 in advance for work to be performed. Paid rent in advance of 511,700 to Cover December through March rent Bought fumiture, paying $3.000 cash and S7,400 nutes payable Received $7,400 from accounts receivable, Incurred salaries expense of $ 5,500 to be paid at a future date. Paid $550 toward their Accounts Payable. Made an adjustment for revenue of $8,400 that was prepaid and had been earned. Adjusted for rent expired during December Adjusted for depreciation on furniture, $380 Paid salaries payable and incurred another $15,600 of salaries expense to be paid next month. Post the salaries paid first. 16 Dec 31 Paid rent in advance 31 Depreciation Expense - Furniture 31 Date Explanation Ref. Debit Credit Balance 31 Balance 0 Dec 3 Adjusting Entry-depreciation 8400 8400 31 NARAN 31 Paid $3,500 in Dividends CHECK ANSWER RESET Incorrect. Try reviewing the Hint to better understand the goal of this activity. Transactions Rent Expense Dec 1 Issued common stock for $21,800 cash. Date Explanation Ref. Debit Credit Balance 2 Balance 0 0 3 Dec.3 Ad usting Entry-rent expired 5 Salaries Expense 10 Dale Explanation Rel Debit Credit Balance 15 Balance 0 15 Dec. 1 Incurred salaries expense 21800 21800 Billed clients for $12,400 of work performed. Received payment of $8,400 in advance for work to be performed. Paid rent in advance of $11,700 to cover December through March rent. Bought furniture, paying 13,000 cash and $7,400 notes payable. Received $7,100 from accounts Neceive receivable Incurred salaries expense of $15,000 to be paid at a future date. Paid $550 toward their Accounts Payable. Made an adjustment for revenue of $8.400 that was prepaid and had been carned Adjusted for rent expired during December Adjusted for lepreciation on furniture, $380 Poid salaries payabile and incurred another $15,600 of salaries expense to be paid next month. Post the salaries paid first. 16 Dec 3 Incurred salanes expense 21800 43600 31 Smart Touch Learning Adjusted Trial Balance December 31, 2016 31 31 Balance Account Title Debit Credit 31 Cash 31 Paid $3,500 in Dividends. CHECK ANSWER S RESET Incorrect. Try reviewing the Hint to better understand the goal of this activity, Transactions Dec, 1 Incurred salaris expense 21800 218DD Dec. 1 Issued common stock for $21,800 cash. Dec 3 Incurred salaries expense 2180p 43600 2 3 Smart Touch Learning Adjusted Trial Balance December 31, 2016 3 Balance 10 Account Title Debit Credit 15 15 Billed clients for $12,400 of work performed Received payment of $8.400 in advance for work to be performed. Paid rent in advance of $11,700 to cover December through March rent Raught furniture, paying $3,000 rash and 57,400 notes payable. Received $7,40D from accounts receivable Incurred salaries expense of S-5,500 to be paidal a future date, Paid $550 toward their Accounts Payable Made an adjustment for revenue of $8,400 that was prepaid and had been earned Adjusted for rent expired during December Adjusted for depreciation on furniture, $380 Paid salaries payable and incurred another $15,600 of salaries expense to be paid next month. Post the salaries paid first. Accounts Receivable 16 Prepaid Rent 31 Furniture Accurrulated Depreciation Furniture 31 Accounts Payabile 31 Salaries Payable 31 Notes Payable 31 Paid $3.505 in Dividends. CHECK ANSWER RESET O Incorrect. Try reviewing the Hint to better understand the goal of this activity. Transactions Dec. 1 Incurred salaris expense 21800 2130D Dec. 1 Issued common stock for $21,800 cash. Dec 3 Incurred salaries expense 21800 43600 2 Furniture 3 Arrurmulated Depreciation Furniture 3 Accounts Payabile 10 Salaries Payable 15 Notes Payable 15 Carmen Sex Billed clients for $12,400 of work performed Received payment of $8.400 in advance for work to be performed. Paid rent in advance of $11,700 to cover December through March rent Raught furniture, paying $3,000 rash and 57,400 notes payable. Received $7,40D from accounts receivable Incurred salaries expense of $ 5,500 to be paidal a future date, Paid $550 toward their Accounts Payable Made an adjustment for revenue of $8,400 that was prepaid and had been earned Adjusted for rent expired during December Adjusted for depreciation on furniture, $380 Paid salaries payable and incurred another $15,600 of salaries expense to be paid next month. Post the salaries paid first. Dividends 16 Service Revenue 31 Depreciation Expense Furniture 31 Rent Fxpense 31 Salaries Expense Total 31 31 Paid $3.505 in Dividends. CHECK ANSWER RESET Incorrect. Try reviewing the Hint to better understand the goal of this activity