The adjusted trial balance of University Book Store as of November 30, 2019, after the firm's first month of operations, appears on the next page.
Appropriate adjustments have been made for the following items:
a. Supplies used during the month, $2,900.
b. Expired rent for the month, $3,500.
c. Depreciation expense for the month, $950.
INSTRUCTIONS
1. Record the Adjusted Trial Balance in the Adjusted Trial Balance columns of the worksheet.
2. Prepare the adjusting entries in the Adjustments columns.
3. Complete the Trial Balance columns of the worksheet prior to making the adjusting entries.
Analyze: What was the balance of Prepaid Rent prior to the adjusting entry for expired rent?

Transcribed Image Text:

Unlversity Book Store Adjusted Trlal Balance November 30, 2019 Account Name Cash Accounts Receivable Supplies Prepaid Rent Equipment Accumulated Decation-Equipment Accounts Payable Ruby Darbandi, Capital Ruby Darbandi, Drawing Fees Income Depreciation Expense-Equipment Rent Expense Salaries Expense Supplies Expense Utilities Expense Totals Debit Credit $23,075 3,812 4,600 21,000 27,500 $950 9,000 41,837 4,000 48,550 950 3,500 8,500 2,900 500 $100,337 $100,337