The adjusted trial balance of College Book Store as of November 30, 2016, after the firm€™s first month of operations, appears on the shown below.

Appropriate adjustments have been made for the following items:
a. Supplies used during the month, $5,800.
b. Expired rent for the month, $7,000.
c. Depreciation expense for the month, $1,900.

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 expiredrent?

Transcribed Image Text:

College Book Store Adjusted Trial Balance November 30, 2016 Account Name Debit Credit Cash Accounts Receivable Supplies Prepaid Rent Equipment Accumulated Deprecation Equipment Accounts Payablie Randy Moss, Capital Randy Moss, Drowing Fees Income Depreciation Expense- Equipment Rent Expense Salaries Expense Supplies Expense Utilities Expense Totals S 46,150 7,624 9,200 42,000 55,000 1,900 18,000 83,674 8,000 97,100 1,900 7,000 17,000 5,800 1,000 S200,674 S200,674