Jaguar Auto Company provides general car maintenance to customers. The company's fiscal year-end is December 31....
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Jaguar Auto Company provides general car maintenance to customers. The company's fiscal year-end is December 31. The December 31, 2024, trial balance (before any adjusting entries) appears below. Credits Accounts Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Salaries Payable Deferred Revenue Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Depreciation Expense Insurance Expense Supplies Expense Utilities Expense Interest Expense Totals b. c. d. Debits $92,200 16,500 27,600 24,600 101,000 In addition, the company had the following year-end adjusting entries. Account Title Transaction a. Salaries Expense Salaries Payable Interest Expense Interest Payable Insurance Expense Prepaid Insurance Supplies Expense Supplies Deferred Revenue Service Revenue 4,500 165,500 0 Depreciation Expense Accumulated Depreciation $43,000 12,900 0 60,300 0 35,600 48,800 10,900 233,000 0 12,600 0 $444,500 $444,500 Debit 10,300 4,300 1,300 20, 300 22,300 15,300 Credit 10,300 4,300 1,300 20,300 22,300 15,300 Required: 1., 2. & 6. Enter the unadjusted balances from the trial balance, post the adjusting entries and closing entries to the T-accounts. 3. Prepare an adjusted trial balance. Jaguar Auto Company provides general car maintenance to customers. The company's fiscal year-end is December 31. The December 31, 2024, trial balance (before any adjusting entries) appears below. Credits Accounts Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Salaries Payable Deferred Revenue Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Depreciation Expense Insurance Expense Supplies Expense Utilities Expense Interest Expense Totals b. c. d. Debits $92,200 16,500 27,600 24,600 101,000 In addition, the company had the following year-end adjusting entries. Account Title Transaction a. Salaries Expense Salaries Payable Interest Expense Interest Payable Insurance Expense Prepaid Insurance Supplies Expense Supplies Deferred Revenue Service Revenue 4,500 165,500 0 Depreciation Expense Accumulated Depreciation $43,000 12,900 0 60,300 0 35,600 48,800 10,900 233,000 0 12,600 0 $444,500 $444,500 Debit 10,300 4,300 1,300 20, 300 22,300 15,300 Credit 10,300 4,300 1,300 20,300 22,300 15,300 Required: 1., 2. & 6. Enter the unadjusted balances from the trial balance, post the adjusting entries and closing entries to the T-accounts. 3. Prepare an adjusted trial balance.
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To answer your question lets update the Taccounts using the unadjusted balances from the trial balance post the adjusting entries and then prepare an ... View the full answer
Related Book For
Financial Accounting
ISBN: 9780078110825
2nd Edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
Posted Date:
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