The trial balance for Pioneer Advertising Inc. is shown below. Pioneer Advertising Inc. Trial balance October 31,
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Question:
The trial balance for Pioneer Advertising Inc. is shown below.
Pioneer Advertising Inc. | |||
---|---|---|---|
Debit | Credit | ||
Money | $15,200 | ||
supplies | 2,500 | ||
prepaid insurance | 600 | ||
Equipment | 5,000 | ||
Pay | $5,000 | ||
Accounts payable | 2,500 | ||
Unearned service income | 1200 | ||
Common actions | 10,000 | ||
Retained earnings | –0– | ||
dividends | 500 | ||
Service revenues | 10,000 | ||
Wages and salaries expense | 4,000 | ||
Rental costs | 900 | ||
$28,700 | $28,700 |
Assume the following fit data.
1. | Supplies available as of October 31 total $500. | |
2. | Insurance due for the month is $100. | |
3. | Depreciation for the month is $50. | |
4. | Services were performed related to unearned service income in October in the amount of $600. | |
5. | Services performed but not recorded as of October 31 are $300. | |
6. | The interest to accrue as of October 31 is $95. | |
7. | Salaries to be earned as of October 31 are $1,625. |
Prepare adjusting entries for the above items.
Related Book For
Financial and managerial accounting
ISBN: 978-1118016114
1st edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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