Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Zcom Inc. is just finishing another year of operations. The company's unadjusted trial balance at April 30, 2014 is shown below. The following additional information

image text in transcribed

Zcom Inc. is just finishing another year of operations. The company's unadjusted trial balance at April 30, 2014 is shown below. The following additional information is available at April 30 for the year just ended a. $4,350 of the advertising paid for in advance has been published by the newspaper. b. Interest of $1,380 has accrued on a note payable but is unrecorded. c $2,750 of the rent paid to Zcom Inc. in advance has not yet been earned. d. Consulting work performed but unrecorded at the end of the year totalled $10,000. e. The Furniture was purchased in a previous year and will be worthless after five years. f. The estimated yearly depreciation on the building is $300. g. A review of the unadjusted balance in the supplies account shows a balance on hand at the end of the year of $3,200. h. Unpaid and unrecorded salaries at year-end totalled $10,000. Use this information to prepare adjusting entries at April 30, 2014, based on the above. Enter the adjustment letter as the description. The dates must be entered in the format dd/mmm (ie. 15/Jan). Zcom Inc. Page GJ8 General Journal Account/Explanation Unadjusted Trial Balance Date F Debit Credit April 30, 2014 Debit Credit Accounts Payable 350 Accounts Receivable 0 Accumulated Depreciation, Building + 8,400 6,150 Accumulated Depreciation, Furniture Advertising Expense 6,500 Building 31,200 Share Capital 98,275 Cash 101,200 300 Consulting Revenue Earned 0 Depreciation Expense, Building 0 Depreciation Expense, Furniture Furniture 15,375 400 Interest Expense Interest Payable Prepaid Advertising 8,800 Rent Earned Activate Windows Retained Earnings Go to Setting Salaries Expense 10,200 Salaries Payable Short-Term Notes Payable 23C Partly sunny roorch 0 1,700 47,000 0 11,500 + + O + T L acte d 4) ENG 11-06-2022

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions

Question

Write a Python program to check an input number is prime or not.

Answered: 1 week ago