The March 31, 2020, unadjusted trial balance for Silva Rentals after its first year of operations...

 

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The March 31, 2020, unadjusted trial balance for Silva Rentals after its first year of operations is shown below: No. 101 Cash Silva Rentals Unadjusted Trial Balance March 31, 2020 Account 110 Rent receivable 124 Office supplies 141 Notes receivable, due 2023 161 Furniture 173 Building 183 Land 191 Patent 201 Accounts payable. 252 Long-term note payable. 301 Stephen Silva, capital 302 Stephen Silva, withdrawals 406 Rent revenue 620 Office salaries expense 633 Interest expense 655 Advertising expense 673 Janitorial expense 690 Utilities expense Totals. Unadjusted Trial Balance Dr. 6,300 30,300 1,900 42,500 15,300 209,000 37,500 8,900 $ 88,500 Cr. $ 13,050 168,000 78,000 321,800 48,500 4,550 13,900 40,300 33,400 $580,850 $580,850 Additional information: a. It was determined that the balance in the Rent Receivable account at March 31 should be $34,600. b. A count of the office supplies showed $1,550 of the balance had been used. c. Annual depreciation on the building is $24,300 and $2,800 on the furniture. d. The two part-time office staff members each get paid $125 per day, for every day they work in the pay period. They are paid on the 1st and 15th of each month. At March 31, each worker had worked 6 days and will be paid on April 1. e. A review of the balance in Advertising Expense showed that $2,050 was for advertisements to appear in the April issue of Canadian Business magazine. f. Accrued utilities at March 31 totalled $2,270. g. March interest of $390 on the long-term note payable is unrecorded and unpaid as of March 31. Account Number 101 Cash 110 Rent receivable 124 Office supplies 141 Notes receivable, due 2023 161 173 183 191 201 252 301 302 406 620 633 655 673 690 650 601 162 606 174 209 131 203 Account Furniture Building Land Patent Accounts payable Long-term note payable Stephen Silva, capital Stephen Silva, withdrawals Rent revenue Office salaries expense Interest expense Advertising expense Janitorial expense Utilities expense Totals Office supplies expense Depreciation expense, furniture Accumulated depreciation, furniture Depreciation expense, building Accumulated depreciation, building Salaries payable Prepaid advertising Interest payable Totals Totals Unadjusted Trial Balance $ Debit 6,300 30,300 1,900 42,500 15,300 209,000 37,500 8,900 88,500 48,500 4,550 13,900 40,300 SILVA RENTALS Work Sheet For Year Ended March 31, 2020 33,400 $ 580,850 Credit $13,050 168,000 78,000 321,800 580,850 Adjustments Debit Credit Adjusted Trial Balance Debit Credit Income Statement Debit Credit Balance Sheet & Statement of Changes in Equity Debit Credit The March 31, 2020, unadjusted trial balance for Silva Rentals after its first year of operations is shown below: No. 101 Cash Silva Rentals Unadjusted Trial Balance March 31, 2020 Account 110 Rent receivable 124 Office supplies 141 Notes receivable, due 2023 161 Furniture 173 Building 183 Land 191 Patent 201 Accounts payable. 252 Long-term note payable. 301 Stephen Silva, capital 302 Stephen Silva, withdrawals 406 Rent revenue 620 Office salaries expense 633 Interest expense 655 Advertising expense 673 Janitorial expense 690 Utilities expense Totals. Unadjusted Trial Balance Dr. 6,300 30,300 1,900 42,500 15,300 209,000 37,500 8,900 $ 88,500 Cr. $ 13,050 168,000 78,000 321,800 48,500 4,550 13,900 40,300 33,400 $580,850 $580,850 Additional information: a. It was determined that the balance in the Rent Receivable account at March 31 should be $34,600. b. A count of the office supplies showed $1,550 of the balance had been used. c. Annual depreciation on the building is $24,300 and $2,800 on the furniture. d. The two part-time office staff members each get paid $125 per day, for every day they work in the pay period. They are paid on the 1st and 15th of each month. At March 31, each worker had worked 6 days and will be paid on April 1. e. A review of the balance in Advertising Expense showed that $2,050 was for advertisements to appear in the April issue of Canadian Business magazine. f. Accrued utilities at March 31 totalled $2,270. g. March interest of $390 on the long-term note payable is unrecorded and unpaid as of March 31. Account Number 101 Cash 110 Rent receivable 124 Office supplies 141 Notes receivable, due 2023 161 173 183 191 201 252 301 302 406 620 633 655 673 690 650 601 162 606 174 209 131 203 Account Furniture Building Land Patent Accounts payable Long-term note payable Stephen Silva, capital Stephen Silva, withdrawals Rent revenue Office salaries expense Interest expense Advertising expense Janitorial expense Utilities expense Totals Office supplies expense Depreciation expense, furniture Accumulated depreciation, furniture Depreciation expense, building Accumulated depreciation, building Salaries payable Prepaid advertising Interest payable Totals Totals Unadjusted Trial Balance $ Debit 6,300 30,300 1,900 42,500 15,300 209,000 37,500 8,900 88,500 48,500 4,550 13,900 40,300 SILVA RENTALS Work Sheet For Year Ended March 31, 2020 33,400 $ 580,850 Credit $13,050 168,000 78,000 321,800 580,850 Adjustments Debit Credit Adjusted Trial Balance Debit Credit Income Statement Debit Credit Balance Sheet & Statement of Changes in Equity Debit Credit

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SILVA RENTALS Work Sheet For The Year Ended March 312020 Unadjusted Trial Balance Adjustment Adjusted Trial Balance Income Statement Balance Sheet Sta... View the full answer