Green Valley Company prepared the following trial balance at the end of its first year of operations
Question:
Other data not yet recorded at December 31, 2014, include:
a. Insurance expired during 2014, $7.
b. Wages payable, $4.
c. Depreciation expense for 2014, $9.
d. Income tax expense, $11.
Required:
1. Prepare the adjusting entries for 2014.
2. Complete the trial balance Adjustments and Adjustedcolumns.
Transcribed Image Text:
UNADJUSTED | ADJUSTMENTS DebitC ADJUSTED Debit Credit Account Titles reditD Debit Credit Cash Accounts receivable Prepaid insurance Machinery Accumulated depreciation Accounts payable Wages payable Income taxes payable Common stock (4,000 shares) Additional paid-in capital Retained earnings Revenues (not detailed) Expenses (not detailed) 20 13 85 4 67 82 32 164 Totals 164
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Related Book For
Financial Accounting
ISBN: 978-0078025556
8th edition
Authors: Robert Libby, Patricia Libby, Daniel Short
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