The ledger of Ley Company includes the following unadjusted balances: Prepaid Insurance $3,000; Service Revenue $58.000; and

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The ledger of Ley Company includes the following unadjusted balances: Prepaid Insurance $3,000; Service Revenue $58.000; and Salaries Expense $25.000. Adjusting entries are required for
(a) Expired insurance $ 1,200;
(b) Services provided $1,100, but unbilled and uncollected;
(c) Accrued salaries payable $800.
Enter the unadjusted balances and adjustments into a worksheet and complete the worksheet for all accounts. Now: You will need to add the following accounts; Accounts Receivable, Salaries Payable, and Insurance Expense.

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Accounting Principles

ISBN: 9780471980193

8th Edition

Authors: Jerry J Weygandt, Donald E Kieso, Paul D Kimmel

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