Val Nolan started a business called Nolan's Home Appraisals. The trial balance as of October 31, after
Question:
Val Nolan started a business called Nolan's Home Appraisals. The trial balance as of October 31, after the first month of operations, is as follows:
REQUIRED
1. Analyze the following adjustments and enter them on the work sheet.
(a) Supplies inventory as of October 31, $210.
(b) Unexpired (remaining) insurance as of October 31, $800.
(c) Depreciation of automobile, $250.
(d) Wages earned but not paid as of October 31, $175.
2. Complete the worksheet.
Transcribed Image Text:
Nolan's Home Appraisals Work Sheet For Month Ended October 31, 20 -- ARISTMENTS TRL BALANCE ACORINT TILE DE CREDE DET REDNT Cash 830 00 760 00 6 25 00 2 Accounts Receivable 3 Supplies 4 Prepaid Insurance 5 Automobile 6 Accum. Depr.-Automobile 7 Accounts Payable 8 Wages Payable 9 Val Nolan, Capital 10 Val Nolan, Drawing 11 Appraisal Fees 12 Wages Expense 13 Advertising Expense 14 Rent Expense 15 Supplies Expense 16 Telephone Expense 17 Insurance Expense 18 Repair Expense 950 00 4 6 50 0 00 6. 1500 00 9. 9 00 00 1100 00 10 3 0 00 00 11 15 6 0 00 12 420 00 13 1050 00 14 15 255 00 16 17 270 00 18 Oil and Gas Expense 19 8 0 00 19 20 Depr. Expense-Automobile 20 14 4 0 0 00 14 400 00 21 21
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