The adjusted trial balance of Heritage Book Store and Supply Company as of November 30, 20X1, after the firm’s first month of operations, appears below.

Appropriate adjustments have been made for the following items:

1. Supplies used during the month, $11,600.

2. Expired rent for the month, $14,000.

3. Depreciation expense for the month, $3,800.

INSTRUCTIONS

1. Record the Adjusted Trial Balance in the Adjusted Trial Balance columns of the worksheet.

2. Prepare the adjusting entries in the Adjustments columns.

3. Complete the Trial Balance columns of the worksheet prior to making the adjusting entries.

Analyze: 

What was the balance of Prepaid Rent prior to the adjusting entry for expired rent?

Table Summary: 

Adjusted trial balance with three-line heading. Columns are for account names, debit, and credit. The debit and credit columns are totaled.

Transcribed Image Text:

Heritage Book Store and Supply Company Adjusted Trial Balance November 30, 20X1 Account Name Cash Accounts Receivable Debit Credit $ 92,300 15,248