Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Tuna Programming is owned by John Kulak and provides computer solutions to the hospitality industry. At the end of October 2021 they had the following

image text in transcribed
image text in transcribed
image text in transcribed
Tuna Programming is owned by John Kulak and provides computer solutions to the hospitality industry. At the end of October 2021 they had the following adjustments Oct 31 Interest of $570 had accrued on the bank loan Oct 31 The balance of prepaid rent is for a 11-month lease, one month of rent has been used Oct 31 Dunng October Tuna Programming eamed $520 of unearned revenue Oct 31 The computers were purchased on October 1, 2021 and have an expected useful life of five years, after which they will have no residual value Record depreciation for October Required Using the following trial balance, complete the adjustments and the adjusted trial balance in the worksheet Do not enter dollars ons on commasin the outboxes Tuna Programming Worksheet October 31, 2021 Unadjusted Trial Balance Adjustments CR DR CR Adjusted Trial Balance Account DR DR CR Cash 4,500 Accounts Receivable 2,640 Prepaid Rent 14,300 Computers 7200 Accumulated Depreciation Computers Accounts Payable 2100 Interest Payable Unaarned Revenue 5.000 Bank Loan 3590 Kulak Capital 17,040 Kulak Capital 17,040 Kulak, Withdrawals 1,590 Service Revenue 4,710 Depreciation Expense Rent Expense Interest Expense Insurance Expense 1,930 Telephone Expense 280 Total 32.440 32,440

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

3. What is the premise of leader-member exchange theory?

Answered: 1 week ago

Question

What are the differences between dismissal and discharge?

Answered: 1 week ago