Question: Calm Lake Outfitters Co an outfitter store for fishing trips

Calm Lake Outfitters Co., an outfitter store for fishing trips, prepared the following unadjusted trial balance at the end of its first year of operations:
To prepare the adjusting entries, the following data were assembled:
a. Supplies on hand on December 31 were $900.
b. Fees earned but unbilled on December 31 were $3,500.
c. Depreciation of equipment was estimated to be $6,200 for the year.
d. Unpaid wages accrued on December 31 were $950.
e. The balance in unearned fees represented the December 1 receipt in advance for services to be provided. Only $2,100 of the services was provided between December 1 and December 31.
Journalize the adjusting entries necessary on December 31.

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  • CreatedSeptember 15, 2015
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