Windsor Advertising was founded in January 2013. Presented below are adjusted and unadjusted trial balances as...
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Windsor Advertising was founded in January 2013. Presented below are adjusted and unadjusted trial balances as of December 31, 2020. WINDSOR ADVERTISING TRIAL BALANCE DECEMBER 31, 2020 Unadjusted Dr. Cash $17,590 Adjusted Cr. Dr. Cr. $17.590 Accounts Receivable 29,200 32,624 Supplies 9,130 3,362 Prepaid Insurance 4,820 3,886 Equipment 65,520 65,520 Accumulated Depreciation-Equipment $30,610 $35,720 Accounts Payable 25,067 25,067 Interest Payable -0- 150 Notes Payable 5,000 5,000 Unearned Service Revenue 7,540 6,080 Salaries and Wages Payable -0- 1,235 Common Stock 10,750 10,750 Retained Earnings 3.390 3,390 Service Revenue 60,743 65,627 Salaries and Wages Expense 11,510 12,745 Insurance Expense 934 Interest Expense 410 560 Depreciation Expense 5,110 Supplies Expense 5,768 Rent Expense 4.920 4,920 $143,100 $143,100 $153,019 $153,019 Journalize the annual adjusting entries that were made. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) No. Date Account Titles and Explanation 1. Dec. 31 Dec. 2. 31 3. (To record accrued service revenue) Dec. 31 (To record earned service revenue) Dec. 4. 31 Dec. 5. 31 (To record supplies used) (To record depreciation on equiment) Dec. (To record interest accrued on the note) 6. 31 Dec. (To record expired insurance) 7. 31 (To record accrued wages) Debit Credit Windsor Advertising was founded in January 2013. Presented below are adjusted and unadjusted trial balances as of December 31, 2020. WINDSOR ADVERTISING TRIAL BALANCE DECEMBER 31, 2020 Unadjusted Dr. Cash $17,590 Adjusted Cr. Dr. Cr. $17.590 Accounts Receivable 29,200 32,624 Supplies 9,130 3,362 Prepaid Insurance 4,820 3,886 Equipment 65,520 65,520 Accumulated Depreciation-Equipment $30,610 $35,720 Accounts Payable 25,067 25,067 Interest Payable -0- 150 Notes Payable 5,000 5,000 Unearned Service Revenue 7,540 6,080 Salaries and Wages Payable -0- 1,235 Common Stock 10,750 10,750 Retained Earnings 3.390 3,390 Service Revenue 60,743 65,627 Salaries and Wages Expense 11,510 12,745 Insurance Expense 934 Interest Expense 410 560 Depreciation Expense 5,110 Supplies Expense 5,768 Rent Expense 4.920 4,920 $143,100 $143,100 $153,019 $153,019 Journalize the annual adjusting entries that were made. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) No. Date Account Titles and Explanation 1. Dec. 31 Dec. 2. 31 3. (To record accrued service revenue) Dec. 31 (To record earned service revenue) Dec. 4. 31 Dec. 5. 31 (To record supplies used) (To record depreciation on equiment) Dec. (To record interest accrued on the note) 6. 31 Dec. (To record expired insurance) 7. 31 (To record accrued wages) Debit Credit
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Related Book For
Intermediate Accounting
ISBN: 978-1119503668
17th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfiel
Posted Date:
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