The unadjusted trial balance and adjustment data of Mylas Motors at December 31, 2014, follow: Adjusting data

The unadjusted trial balance and adjustment data of Myla’s Motors at December 31, 2014, follow:

Adjusting data at December 31, 2014:
a. Depreciation on equipment, $ 1,100.
b. Accrued Wages Expense, $ 600.
c. Office Supplies on hand, $ 200.
d. Prepaid Insurance expired during December, $ 200.
e. Unearned Revenue earned during December, $ 4,000.
f. Accrued Service Revenue, $ 800.
2015 transactions:
a. On January 4, Myla’s Motors paid wages of $ 1,000. Of this, $ 600 related to the accrued wages recorded on December 31.
b. On January 10, Myla’s Motors received $ 1,000 for Service Revenue. Of this, $ 800 is related to the accrued Service Revenue recorded on December 31.

Requirements
1. Journalize adjusting journal entries.
2. Journalize reversing entries for the appropriate adjusting entries.
3. Refer to the 2015 data. Journalize the cash payment and the cash receipt that occurred in2015.

Transcribed Image Text:

MYLA'S MOTORS Unadjusted Trial Balance December 31, 2014 Balance Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Wages Payable Uneaned Revenue Common Stock Dividends Service Revenue Depreciation Expense Equipment Wages Expensa Insurance Expense Utilities Expense Supplies Expense Total Debit S 4.300 26,600 Credit 500 1,700 53,500 536,400 13,400 8,000 19,700 3,800 16,000 1,600 1,500 93,500 93,500