Galaxy Theater Production Companys partially completed worksheet as of December 31, 2024, follows. Adjustment data at December
Question:
Galaxy Theater Production Company’s partially completed worksheet as of December 31, 2024, follows.
Adjustment data at December 31 follow:
a. As of December 31, Galaxy had performed $900 of service revenue but has not yet billed customers.
b. At the end of the month, Galaxy had $500 of office supplies remaining.
c. Prepaid Insurance of $600 remained.
d. Depreciation expense, $4,200.
e. Accrued salaries expense of $150 that hasn’t been paid yet.
Requirements
1. Complete the worksheet. Use letters a through e to label the five adjustments.
2. Journalize the adjusting entries.
Transcribed Image Text:
1 2 3 4 A 5 6 7 Cash 8 Accounts Receivable 9 Office Supplies 10 Prepaid Insurance 11 Equipment 12 Accumulated Depreciation Equipment 13 Accounts Payable 14 Salaries Payable Account Names 15 Galaxy, Capital 16 Galaxy, Withdrawals 17 Service Revenue 18 Depreciation Expense-Equipment 19 Supplies Expense 20 Utilities Expense 21 Salaries Expense 22 Insurance Expense 23 Total 24 B GALAXY THEATER PRODUCTION COMPANY Unadjusted Trial Balance Debit Credit Worksheet December 31, 2024 $ 3,600 5,700 1,500 900 23,000 26,000 4,300 30,000 $ 95,000 $ 8,500 4,600 9,900 72,000 D $ 95,000 Adjustments Debit E Credit F G Adjusted Trial Balance Debit Credit
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ISBN: 9780136162186
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