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Unadjusted Trial Balance Adjusting journal entries Adjusted Trial Balance 1 . Supplies used during the period were $200. Cash 11,000 2 . Insurance premiums expired
Unadjusted Trial Balance Adjusting journal entries Adjusted Trial Balance 1 . Supplies used during the period were $200. Cash 11,000 2 . Insurance premiums expired during the period were Cash 11,000 Accounts Receivable 18,000 $1,200.00 Accounts Receivable 27,000 Prepaid Insurance 2,400 3 . Depreciation of building during the period is $18,000. Prepaid Insurance 1,200 Supplies 1,000 4 . Wages accrued at the end of the period are $1,000. Supplies 800 Land 210,000 5 . Depreciation of equipment during the period is $4,000. Land 210,000 Building 120,000 6 . Unbilled fees at the end of the period are $9,000. Building 120,000 Accumulated 7 . Of the unearned fees previously received in advance, $5,000 of Accumulated Depreciation-building 65,000 services were provided during the period. Depreciation-building 83,000 Equipment 72,000 Equipment 72,000 Accumulated Debit Credit Accumulated depreciation-equip 32,500 1 Supplies (expense) 200 depreciation-equip 36,500 Accounts Payable 32,000 Supplies (asset) 200 Accounts Payable 32,000 Wages Payable 0 Wages Payable 1,000 Unearned revenue 21,700 2 Insurance Exp 1,200 Unearned revenue 16,700 Notes Payable 49,000 Prepaid insurance 1,200 Notes Payable 49,000 Capital 110,000 Capital 110,000 Drawing 2,000 3 Depreciation - Building 18,000 Drawing 2,000 Service fees earned 127,000 Accumulated Depreciation 18,000 Service fees earned 141,000 Rent earned 25,200 Rent earned 25,200 Supplies (e) 200 4 Wages 1,000 Supplies (e) 400 Insurance 1,200 Wages Payable 1,000 Insurance 2,400 Wages 3,500 Wages 4,500 Telephone 1,000 5 Depreciation -Equipment 4,000 Telephone 1,000 Depreciation 20,000 Accumulated Depreciation 4,000 Depreciation 42,000 Miscellaneous 100 Miscellaneous 100 TOTALS 462,400 462,400 6 A/R 9,000 TOTALS 494,400 494,400 Service Fees 9,000 7 Unearned Revenue 5,000 Service Fees 5,000 Use the attached information to prepare adjusting journal entries, an adjusted trial balance, income statement, statement of owner's equity, balance sheet and closing journal entries.
Unadjusted Trial Balance Adjusting journal entries Adjusted Trial Balance
1 . Supplies used during the period were $200.
Cash 11,000 2 . Insurance premiums expired during the period were Cash 11,000
Accounts Receivable 18,000 $1,200.00 Accounts Receivable 27,000
Prepaid Insurance 2,400 3 . Depreciation of building during the period is $18,000. Prepaid Insurance 1,200
Supplies 1,000 4 . Wages accrued at the end of the period are $1,000. Supplies 800
Land 210,000 5 . Depreciation of equipment during the period is $4,000. Land 210,000
Building 120,000 6 . Unbilled fees at the end of the period are $9,000. Building 120,000
Accumulated 7 . Of the unearned fees previously received in advance, $5,000 of Accumulated
Depreciation-building 65,000 services were provided during the period. Depreciation-building 83,000
Equipment 72,000 Equipment 72,000
Accumulated Debit Credit Accumulated
depreciation-equip 32,500 1 Supplies (expense) 200 depreciation-equip 36,500
Accounts Payable 32,000 Supplies (asset) 200 Accounts Payable 32,000
Wages Payable 0 Wages Payable 1,000
Unearned revenue 21,700 2 Insurance Exp 1,200 Unearned revenue 16,700
Notes Payable 49,000 Prepaid insurance 1,200 Notes Payable 49,000
Capital 110,000 Capital 110,000
Drawing 2,000 3 Depreciation - Building 18,000 Drawing 2,000
Service fees earned 127,000 Accumulated Depreciation 18,000 Service fees earned 141,000
Rent earned 25,200 Rent earned 25,200
Supplies (e) 200 4 Wages 1,000 Supplies (e) 400
Insurance 1,200 Wages Payable 1,000 Insurance 2,400
Wages 3,500 Wages 4,500
Telephone 1,000 5 Depreciation -Equipment 4,000 Telephone 1,000
Depreciation 20,000 Accumulated Depreciation 4,000 Depreciation 42,000
Miscellaneous 100 Miscellaneous 100
TOTALS 462,400 462,400 6 A/R 9,000 TOTALS 494,400 494,400
Service Fees 9,000
7 Unearned Revenue 5,000
Service Fees 5,000
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Financial Accounting: A Business Process Approach
Authors: Jane L. Reimers
3rd edition
978-0136115274
