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Trial Balance The trial balance and information for year-end adjustments for IB Hungry Food Company are as follows: Prepare the necessary year-end adjustments on the
Trial Balance
The trial balance and information for year-end adjustments for IB Hungry Food Company are as follows: Prepare the necessary year-end adjustments on the six-column worksheet provided and identify each adjustments by letter. IB Hungry Food Company Worksheet October 31, 2019 Trial Balance Debit Credit Adjustments Debit Credit Adjusted Trial Balance Debit Credit 50.000 8,500 Account Title Cash Accounts Receivable Supplies Prepaid Rent Delivery Van 3.700 18,000 38.000 Accounts Payable 42.000 140,200 27,000 67,500 Rich, Capital Rich, Drawing Food Prep Fees Wages Expense Insurance Expense Supplies Expense Utility Expense 42,000 54,000 B26 8,500 249,700 249,7001 a) The balance of supplies remaining on hand is $2,950 at October 31, 2019. b) Unused rent as of year-end is $7,100. c) The delivery van was purchased September 1, 2019, Cost $38,000, Salvage $2,000, and Life is 4 Years. Show depreciation of vanStep by Step Solution
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