The December 31, 2020, unadjusted trial balance for Musical Sensations after its second year of operations follows:

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The December 31, 2020, unadjusted trial balance for Musical Sensations after its second year of operations follows:image

Required

1. Enter the unadjusted trial balance onto a work sheet.

2. Using the following additional information, enter the adjustments into the work sheet:

a. A review of the Unearned Performance Revenue account revealed a balance remaining of $9,225.

b. Annual depreciation on the musical equipment is $21,600.

c. Accrued salaries at December 31 totalled $6,100.

d. It was determined that $650 of the balance in the Office Supplies account had been used.

3. Complete the work sheet.

4. Calculate the balance in the capital account as it would appear on the December 31, 2020, balance sheet.

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Related Book For  book-img-for-question

Fundamental Accounting Principles Volume I

ISBN: 978-1260305821

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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