At the end of 2016, Richards Company prepared a trial balance, recorded and posted its adjusting entries,
Question:
Required:
1. By comparing the partial trial balance to the partial adjusted trial balance, determine the adjusting entries that the company made on December 31, 2016. Prepare your answers in general journal form.
2. Assuming that the company uses reversing entries, indicate which adjusting entries should be reversed.
Transcribed Image Text:
Partial Adjusted Trial Balance Trial Balance Credit Credi $3,960 Depreciation Expense Interest Payable (due May 14, 2018 Bad Debts Expense Utilities Expense Rertal Revenue Income Tax Expense Prepaid Insurance Office Salaries Payable Rent Expense Accumulałed Depreciation Interest Receivable (due March 1, 2017) Prepaid Rent Office Salaries Expense Income Taxes Payable Insurance Expense Alowance for Doubful Accounts Interest Expense Unearned Rent $ 810 410 1,682 1,480 1,650 2,635 2,740 1.380 1,742 4,820 18,780 1,600 5,600 6,140 2,740 300 130 810 Utilities Payable Interest Revenue Sales Salaries Expense Office Supplies Rent Receivable Advances to Salespersons Office Supplies Expense 620 $7850 $ 202 940 $7,300 1,150 0 770 700 385 220 450
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Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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