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Accounting 5th Edition Charles T. Horngren, Walter T. Harrison, Linda S. Bamber, Betsy Willis, Becky Jones - Solutions

DE6-1 Suppose you have just invested your life savings in a Baskin Robbins franchise. The business is growing fast, and you need a better accounting information system. Consider the features of an effective system, as discussed on pages 227-228. Which do you regard as most important? Why? Which
DE6-2 Match each component of a computerized accounting system with its meaning. Component A. Server B. Hardware C. Software: D. Network Meaning Electronic linkages that allow different computers to share the same information Electronic equipment Programs that drive a computer Main computer in a
DE6-3 Complete the crossword puzzle that follows. 4 1 2 7 3 6 Accounting system vocabulary (Obj. 1) Down: 1. Managers need over operations in order to authorize transactions and safeguard assets 3. Programs that drive a computer 4. Electronic computer equipment 5. A ible information system
DE6-4 Use account numbers 11-16, 21, 22, 31, 32, 41, 51, and 52 to correspond to the following selected accounts from the general ledger of Entre Home Furnishings. List the accounts and their account numbers in proper order, starting with the most liquid current asset. Depreciation expense Cash
DE6-5 Refer to the spreadsheet screen in Exhibit 6-7, page 233. Suppose cells B1 through B4 are your business's actual income statement for the current year. You wish to develop your financial plan for the coming year. Assume that you expect revenues to increase by 15% and expenses to increase by
DE6-6 Use the following abbreviations to indicate the journal in which you would record transactions a-n. J = General journal P Purchases journal S Sales journal CP Cash payments journal CR Cash receipts journal Transactions:a. Cash purchase of inventoryb. Collection of dividend revenue earned on
Link Back to Chapter 5 (Gross Profit). Use the sales journal and the related ledger accounts in Exhibit 6-10, page 236, to answer these questions about Austin Sound Center. 1. How much gross profit did Austin Sound earn on credit sales during November? For this answer, ignore sales discounts and
DE6-8 1. Where does the total amount receivable from all the customers appear? Be specific. 2. A key control feature of Austin Sound Center's accounting system lies in the agree- ment between the detailed customer receivable records and the summary total in the general ledger. Use the data in
The cash receipts journal of Austin Sound Center appears in Exhibit 6-11, page 239, along with the company's various ledger accounts. Use the data in Exhibit 6-11 to answer the following questions that Charles Ernest, owner of the business, might face. 1. How much were cash sales during November?
DE6-10 Refer to Austin Sound Center's purchases journal (Exhibit 6-12, page 2411 and cash payments journal (Exhibit 6-13. page 243). Charles Ernest, the owner, has raised the fol- lowing questions about the business. 1. At November 30, after all purchases and all cash payments, how much does Austin
DE6-11 Link Back to Chapters 1 and 2 (Recording transactions). Use Austin Sound's pur- chases journal (Exhibit 6-12, page 241) and cash payments journal (Exhibit 6-13, page 243) to address these real-world questions faced by Charles Ernest, owner of the business. 1. Why did Austin Sound debit Rent
DE6-12 Answer the following questions about the November transactions of Austin Sound Center. You will need to refer to Exhibits 6-10 through 6-13, which begin on page 236. 1. How did Austin Sound purchase furniture-for cash or on account? Indicate the basis for your answer. 2. From whom did Austin
Assign account numbers (from the list that follows) to the accounts of AudioBasket. Identify the headings, which are not accounts and would not be assigned an account number. Mark Lancaster. Capital Assets Current Assets Accounts Receivable Note Payable, Long-Term Numbers from which to choose: Mark
The following accounts of Kim Fisher Company show some of the company's adjusted balances before closing: Total assets Current assets Plant assets. Total liabilities Current liabilities S ? Long-term liabilities S ? 31,600 63,400 Kim Fisher, capital.... 8.600 Kim Fisher, withdrawals 2.000 ? Total
Equipment listed on a spreadsheet has a cost of $400,000; this amount is located in cell B9. The number of years of the asset's useful life is found in cell C3. Write the spreadsheet for- mula to express annual depreciation expense for the equipment.
The values of the following items are stored in the cells of a Kovar Associates spread- sheet: Item Total assets Current assets Fixed assets Total liabilities Current liabilities Long-term liabilities Write the spreadsheet formula to calculate the company'sa. Current ratiob. Total owner's equity
The sales and cash receipts journals of Keester.com include the following entries: Date Sales Journal Accounts Receivable Dr. Sales Revenue Cr. Cost of Goods Sold Dr. Inventory Cr. Account Post. Debited Ref. May 7 L. Ewald 930 10 T. Ross 4,100 10 E. Lovell 690 12 B. Goebel 5.470 31 Total 11.190 550
The cash receipts journal of EnvisioNet follows. Cash Receipts Journal Page 7 Debits Credits Other Accounts Date Sales Cash Discounts Accounts Sales Receivable Revenue Post. Account Title Ref. Amount Jan. 2 19 269 794 491 4,480 16 810 Annan Corp. (e) 491 Kamm, Inc. (f) Note Receivable (g) 4,000
E6-7 A customer account in the accounts receivable ledger of Vitria Paint Company follows. Jo Mei Chang Date Nov. 3 6 14 27 Balance Jrnl. Ref. Dr. Cr. Dr. Cr. 403 S.5 1.180 1.583 J.8 191 1.392 CR.9 703 689 Required Describe the three posted transactions.
E6-8 During April, Nike/Time completed the following credit purchase transactions: April 5 Purchased supplies, $1.106, from Disch Corporation 11 Purchased inventory. $3,600, from Conn Corp. Nike/Time uses a perpetual inventory system. 19 Purchased equipment. $14,300, from Saturn Co. 22 Purchased
The purchases journal of Hans Bauman Company follows. Purchases Journal journal; balancing the ledgers (Obj. 5) Page 7 Other Accounts Dr. Account Account Post. Payable Inventory Supplies Post. Amt. Date Credited Terms Ref. Cr. Dr. Dr. Acct. Title Ref. Dr. Sep. 2 Lancer n/30 800 800 Technologies 5
During August. Silicon Valley Sporting Goods had the following transactions: Aug. 1 Paid $490 on account to Rabin Associates, net of a $10 discount for an earlier purchase of inventory. Purchased inventory for cash. $4.300. 5 9 Paid $375 for supplies. 15 16 21 26 30 Required Purchased inventory on
Link Back to Chapter 5 (Recording Purchases. Sales, and Returns). The following docu- ments describe two business transactions. Date: Invoice May 14, 20X0 Date: Debit Memo May 20, 20X0 Sold to: BiWheel Bicycle Shop Sold by: Schwinn Company Issued to: Schwinn Company Issued by: BiWheel Bicycle Shop
Link Back to Chapter 5 (Cost of Goods Sold. Gross Profit). 1. Austin Sound Center's special journals in Exhibits 6-10 through 6-13 (pages 236-243) provide the owner with much of the data needed for preparation of the financial state- ments. Austin Sound uses the perpetual inventory system, so the
The following spreadsheet shows the income statement of Tradex Technologies: Column Row Number A 7 Revenues: 8 Service revenue 9 Rent revenue 10 11 12 13 14 15 16 17 18 19 Total revenue Expenses: Salary expense Supplies expense Rent expense Depreciation expense Total expenses 20 21 Net income 22 B
The general ledger of Ariba Genetics includes the following selected accounts: Cash Accounts Receivable Inventory. Notes Receivable. Supplies... Land 11 Sales Revenue.. 41 12 Sales Discounts. 42 13 Sales Returns and Allowances. 43 15 Interest Revenue 47 16 Cost of Goods Sold.. 51 18 All credit
Correcting errors in the cash receipts journal (Obj. 4) P6-3A The following cash receipts journal of Trilogy Buying Cooperative contains five entries. All five entries are for legitimate cash receipt transactions, but the journal contains some errors in recording the transactions. In fact, only one
The general ledger of Sun Network.com includes the following accounts: Cash. Inventory Prepaid Insurance Supplies...... 111 Furniture 131 Accounts Payable. 161 Rent Expense. 171 Utilities Expense 187 211 564 583 Transactions in December that affected purchases and cash payments were as follows:
The general ledger of Commerce One includes the following accounts: Equipment. Cash Inventory. Prepaid Insurance. Supplies. 111 131 Accounts Payable. 161 Rent Expense. 171 Utilities Expense. 189 211 562 Transactions in January that affected purchases and cash payments were as follows: Jan. 4 Paid
Case 1. AccuTrac Software creates and sells cutting-edge networking software. AccuTrac's quality control officer estimates that 20% of the company's sales and purchases of inventory are returned for additional debugging. AccuTrac needs special journals for Sales returns and allowances Required
Case 2. A fire destroyed certain accounting records of DuPont Science Corp. The owner. Franois DuPont, asks for your help in reconstructing the records. He needs to know the begin- ning and ending balances of Accounts Receivable and the credit sales and cash receipts on account from customers
On a recent trip to Ireland. Ian O'Shea, sales manager of Eln, Inc.. took his wife along at company expense. Martha Gibney, vice president of sales and O'Shea's boss, thought his travel and entertainment expenses seemed excessive. Gibney approved the reimbursement. however, because she owed O'Shea
Preparing a Business Plan for a Merchandising Entity. As you work through Part 2 of this book (Chapters 7-121, you will be examining in detail the current assets, current liabilities, and plant assets of a business. Most of the organizations that form the context for business activity in the
Preparing a Business Plan for a Service Entity. List what you have learned thus far in the course. On the basis of what you have learned. refine your plan for promoting a rock concert (from Team Project 2 in Chapter 1) to include everything you believe you must do to succeed in this business
The Internet has opened new consulting opportunities for the accounting profession. The government has regulations and forms available on-line. Individual accountants have Web sites explaining the services they offer. Accounting organizations provide information to members at low cost through the
answer these questions 1. How could Ralph steal cash receipts and hide the theft? What additional steps should the manager take to strengthen the control over cash receipts? 2. What is the internal control weakness in this situation? Explain the weakness.
Use the data in Exercise 5-7 to prepare the multi-step income statement of Northstar Auto Supply for the year ended March 31, 20X2.
Refer to Exercise 5-8. After completing Northstar's income statement for the year ended March 31, 20X2, compute these ratios to evaluate Northstar's performance: Gross profit percentage Inventory turnover (Ending inventory one year earlier. at March 31, 20X1, was $30,500.) Compare your figures with
Selected amounts from the accounting records of Barringer Boats. Ltd., are listed in alphabetical order. Accounts payable.. $16.200 Owner's equity. Accumulated depreciation. 18,700 December 31, 20X0 $126.070 Cost of goods sold. 99.300 Sales discounts... 9.000 General expenses. 23,500 Sales returns.
Prepare Barringer Boats, Ltd.'s single-step income statement for 20X0, using the data from Exercise 5-10. Compute the gross profit percentage, and compare it with last year's gross profit percentage of 50%. Does this two-year trend in the gross profit percentage suggest bet- ter or worse
General Motors (GM) is a business empire, with both automotive operations and financial services. During 1999. GM's automotive operations made sales of $153 billion and had cost of goods sold totaling $127 billion. GM's automotive assets totaled $126 billion at December 31, 1999. Total automotive
The periodic inventory records of Barringer Boats, Ltd. include these accounts at December 31, 20X0: Purchases of inventory.. $98,600 Purchase discounts 3.000 Purchase returns and allowances 2.000 Freight in. 4,100 Inventory. 19.400 One year ago, at December 31, 19X9. Barringer's inventory balance
Supply the missing income statement amounts in each of the following situa- tions: Computing inventory and cost of goods sold amounts in a periodic inventory system (Obj. 6) Sales Sales Discounts Net Sales Beginning Inventory Net Purchases Ending Inventory Cost of Goods Sold Gross Profit $98,300
For the year ended December 31, 20X1. Lighthouse Designs, a retailer of home- related products, reported net sales of $338 million and cost of goods sold of $154 million. The company's balance sheet at December 31, 20X0 and 20X1, reported inventories of $103 mil- lion and $129 million,
Amos Faraday's consulting practice includes a great deal of systems consulting busi- 2. Faraday has begun selling accounting software. During January, the business completed these transactions: Jan. 2 Completed a consulting engagement and received cash of $7.200. Purchased accounting software
Wal-Mart Stores, Inc., is the largest retailer in the world, with almost 4.000 stores. A key Wal-Mart advantage is its sophisticated perpetual inventory accounting system. Required You are the manager of a Wal-Mart store in Nashville, Tennessee. Write a one-paragraph business memo to a new employee
Assume the following transactions occurred between Johnson & Johnson (J&J), the healthcare products company, and CVS Drugstores, during February of the current year: Feb. 6 Johnson & Johnson sold $8,000 worth of merchandise to CVS on terms of 2/10 n/30, FOB shipping point. J&J prepaid freight
Preakness Wholesale Grocery engaged in the following transactions during May: May 3 Purchased office supplies for cash, $300. 7 Purchased inventory on credit terms of 3/10 net eom. $2.000. 8 Returned half the inventory purchased on May 7. It was not the inventory ordered. 10 Sold goods for cash,
P5-4A House of India Restaurant's trial balance pertains to December 31, 20X9. HOUSE OF INDIA RESTAURANT Trial Balance December 31, 20X9 Cash Accounts receivable. Inventory. Prepaid rent Fixtures... Accumulated depreciation. Accounts payable. Salary payable $ 1.270 4.430 73,900 4:400 22.100 $ 8.380
Refer to the data in Problem 5-4A. 1. Journalize the adjusting and closing entries. 2. Determine the December 31 balance of Reshma Desai. Capital.
Link Back to Chapter 4 (Classified Balance Sheet). Selected accounts of Mother Earth Organic Products are listed along with their balances before closing at May 31, 20X9. Accounts payable. $ 16,900 Interest expense. S 400 Accounts receivable. 33.700 Interest payable.. 1.100 Accumulated
Link Back to Chapter 4 (Classified Balance Sheet). Required 1. Use the data of Problem 5-6A to prepare a single-step income statement for the month ended May 31, 20X9. 2. Prepare Mother Earth's classified balance sheet in report format at May 31, 20X9. Show your computation of the May 31 balance of
The trial balance and adjustments columns of the work sheet of Purcell Music Company include the following accounts and balances at November 30, 20X4: Trial Balance Adjustments Account Title Debit Credit Debit Credit Cash 24,000 Accounts receivable 14.500 Inventory 36,330 Supplies. 2,800 Furniture.
The accounting records of Copeland Appliance list the following at November 30. 20X1: Purchases of inventory Inventory: November 30, 20X0.. (Computing cost of goods sold and gross profit in a periodic inventory system; evaluating the business (Obj. 5, 6) $132,000 Selling expenses 8.800 November 30,
Optic Nerve is a regional chain of optical shops in the southwestern United States. The company offers a large selection of eyeglass frames, and Optic Nerve stores provide while- you-wait service. The company has launched a vigorous advertising campaign to promote two-for-the-price-of-one frame
Assume the following transactions occurred between Eckerd Drug Stores and Johnson & Johnson (J&J), the healthcare products company, during June of the current year: Johnson & Johnson sold $6,000 worth of merchandise to Eckerd Drug Stores on terms of 2/10 n/30, FOB shipping point. J&J prepaid
Fresh Market Grocery's trial balance pertains to December 31, 20X1. FRESH MARKET GROCERY Trial Balance December 31, 20X1 Cash. Accounts receivable Inventory Store supplies Prepaid insurance. Store fixtures. Accumulated depreciation.. Accounts payable $ 2.910 6.560 101,760 1,990 3.200 63.900 $
P5-5B Refer to the data in Problem 5-4B at the bottom of the facing page. Required 1. Journalize the adjusting and closing entries of Fresh Market Grocery 2. Determine the December 31 balance of Elaine Lorens. Capital.
Link Back to Chapter 4 (Classified Balance Sheet). Selected accounts of Genesis Electronics are listed along with their balances before closing at July 31, 20X2 E Accounts payable.. Accounts receivable. $127.300 46.200. Interest payable. $ 3,000 Inventory: July 31. 187,300 Accumulated depreciation-
Link Back to Chapter 4 (Classified Balance Sheet). Required 1. Use the data of Problem 5-6B to prepare Genesis Electronics' single-step income statement for July 31, 20X2. 2. Prepare Genesis's classified balance sheet in report formar at July 31, 20X2. Show your computation of the July 31 balance
P5-8B The trial balance and adjustments columns of the work sheet of Carolina Crystal Company follow. Trial Balance Adjustments Account Title Debit Credit Debit Credit Cash. 7.300 Accounts receivable. 4.360 (a) 1.400 Inventory. 9.630 (b) 2.100 Supplies 10.700 (C) 7.940 Equipment.. 99.450
P5-9B The accounting records of Vanguard Security Systems at June 30, 20X2 list the fol- lowing: Cash Purchases of inventory. Freight in $ 13,600 98,100 4,300 Inventory: June 30, 20X1. $23,800 June 30, 20X2 28,500 Equipment.. 44.700 Sales revenue. 199,100 Purchase discounts... 1,300 Purchase
Case 1. Link Back to Chapter 4 (Classified Balance Sheet. Current Ratio. Debt Ratio). David Wheelis owns Heights Pharmacy, which has prospered during its second year of operation. In deciding whether to open another pharmacy in the area. Wheelis has prepared the current financial statements of the
The employees of Ewald Systems made an error when they performed the inventory count at year end. October 31, 20X8. Part of one warehouse was not counted, and therefore its inventory was not included in the company's total ending inventory. Required 1. Indicate the effect of the inventory error on
Greg Ogden Belting Company makes all sales of industrial conveyor belts under terms of FOB shipping point. The company usually receives orders for sales approximately one week before shipping inventory to customers. For orders received late in December, Greg Ogden, the owner, decides when to ship
This case uses both the income statement (statement of income) and the balance sheet of Target Corporation, in Appendix A. It will help you understand the closing process of a business with inventories. Required 1. Journalize Target's closing entries for fiscal year 1999. You may be unfamiliar with
With a small team of classmates, visit one or more actual merchandising businesses in your area. Interview a responsible official of the company to learn about its inventory policies and accounting system. Obtain answers to the following questions, write a report, and be pre- pared to make a
You can now compare prices for consumer electronics. personal computers, and entertainment software online by visiting the Best Buy and Circuit City Web sites. You can also compare their financial information online. Let's see how these companies compare. Required 1. Go to http://www.hoovers.com
The trial balance of State Service Company pertains to December 31, 20X3, which is the end of its year-long accounting period. Data needed for the adjusting entries includea. Supplies on hand at year end, $2,000.b. Depreciation on furniture and fixtures, $20,000.c. Depreciation on building,
How long is the basic accounting period? What is a fiscal year?
What is an interim period? Not End DEC 31
Briefly explain the matching principle. x vs Rev
Why are adjusting entries made at the end of the accounting period?
On January 1. ABC Company pays $1.800 for an insurnce policy that covers three years. At the end of the first year, the balance of its Prepaid Insurance account contains two elements. What are the two elements, and what is the correct amount of each?
The title Prepaid Expense suggests that this account is an expense. If it is. explain why. If it is not, what type of account is it?
The balance sheet reports plant assets at book value of $135,000 and accumulated depreciation of $65,000. What does book value of a plant asset mean? What was the cost of the plant assets?
Study Exhibit 3-1, and the related discussion on pages 83 and 84. Suppos Drugstore.com is preparing its income statement. Identify the amount of revenu Drugstore.com would report on its January income statement under (a) cash-basis account ing and (b) accrual-basis accounting. How much advertising
It's Just Lunch, the business featured at the beginning of this chapter, uses computer databases to help its clients meet each other. Suppose It's Just Lunch paid $2,900 for a Dell computer. Review pages 00 and 00, and then describe how It's Just Lunch would- account for the $2,900 expenditure
DE3-3 Intel Corporation produces the Pentium processor that is featured in many computers. Demand for Pentium processors is very strong. Suppose Intel has completed production of 2.000 processor units that it expects to sell to IBM. Assume that Intel's cost to manufacture each processor is $140 and
DE3-4 Return to the Intel Corporation situation described in Daily Exercise 3-3. Suppose that Intel has sold 2.000 Pentium processors to IBM. What will Intel record in order to apply the matching principle? Give the name of the expense that Intel will record, and specify its amount.
DE3-5 Storage USA operates approximately 475 miniwarehouses across the United States. The company's headquarters are in Memphis, Tennessee. During 1998. Storage USA earned rental revenue of $217 million and collected cash of $223 million from customers. Total expenses for 1998 were $162 million, of
DE3-6 At December 31, 1999, US Airways recorded Salary Expense and Salary Payable of $341 million, as shown on page 86. Suppose US Airways paid $350 million to its employees on January 3, 2000, the company's next payday after the end of the 1999 year. 1. Consider the salary expense that US Airways
DE3-7 Answer the following questions. 1. Prepaid expenses are discussed beginning on page 88. Focus on the accounting for pre- paid rent. Assume that Gay Gillen's initial $3,000 prepayment of rent on April 1 (page 88) was for 12 months rather than three. Give Gay Gillen's adjusting entry to record
DE3-8 + Link Back to Chapters 1 and 2 (Income Statement and Balance Sheet). It's Just Lunch uses computers for data searches. Suppose that on May 1 the company paid cash of $36.000 for Gateway computers that are expected to remain useful for two years. At the end of two years, the value of the
DE3-9 Suppose Gay Gillen borrowed $20,000 on October 1 by signing a note payable to Community One Bank. Gillen's interest expense for each month is $100. The loan agreement requires Gillen to pay October interest at the end of December, along with the interest that will accrue for November and
DE3-10 Return to the situation of Daily Exercise 3-9. Suppose you are accounting for the same transactions on the books of Community One Bank, which lent the money to Gay Gillen eTravel. Perform all three requirements of Daily Exercise 3-9 for Community One Bank using its own accounts: Interest
DE3-11 Write a paragraph to explain why unearned revenues are liabilities rather than revenues. In your explanation, use the following actual example: Southern Living Magazine collects cash from subscribers in advance and later mails the magazines to subscribers over a one-year period. Explain what
DE3-12 Study the T-accounts in Exhibit 3-9. Panel C. on page 97. Focus on the Prepaid Rent account. Which amount in the Prepaid Rent account appeared on the unadjusted trial balance (Exhibit 3-10, page 991? Which amount in the Prepaid Rent account will appear on the adjusted trial balance? Which
DE3-13 In the Adjustments columns of Exhibit 3-10, page 99. two adjustments affected Service Revenue. 1. Make journal entries for the two adjustments. Date each entry and include an explana- tion. 2. The journal entries you just made affected three accounts: Accounts Receivable: Unearned Service
DE3-14 Write a business memorandum to your supervisor explaining the difference between the unadjusted amounts and the adjusted amounts in Exhibit 3-10. page 99. Use Accounts Receivable in your explanation. If necessary, refer to the discussion of Accrued Revenues that begins on page 94. Business
DE3-15 Refer to the adjusted trial balance in Exhibit 3-10. page 99. 1. Focus first on the unadjusted amounts. Compute the amount of total assets that Gay Gillen would have reported on the balance sheet at April 30 if she had not made the adjusting entries at the end of the period. Also compute
DE3-16 Refer to the adjusted trial balance in Exhibit 3-10 page 99. 1. Focus first on the unadjusted amounts. Compute the amount of total revenues that Gay Gillen e Travel would have reported on the income statement for the month of April if she had not made the adjusting entries at the end of the
E3-1 Homewood Suites had the following selected transactions during January: Jan. 1 Prepaid rent for three months, $2.700. Paid electricity expenses. $400. Received cash for the day's room rentals. $1.400. 5 9 14 Paid cash for six television sets. $3.000. 23 Served a banquet, receiving a note
E3-2 Identify the accounting concept or principle (there may be more than one) that gives the most direction on how to account for each of the following situations:a. The owner of a business desires monthly financial statements to measure the progress of the entity on an ongoing basis.b. Expenses
E3-3 Write a memo to your supervisor explaining in your own words the need for adjusting entries at the end of the period. Cite two accounts that need to be adjusted. Adapt the format for a business memo that is given with Daily Exercise 3-14.
E3-4 Compute the amounts indicated by question marks for each of the following situations for Prepaid Insurance. For situations A and B. journalize the needed entry. Consider each situation separately.Beginning Prepaid Insurance. Payments for Prepaid Insurance during the year. Total amount to
E3-5 Journalize the entries for the following adjustments at January 31. the end of the accounting period.a. Employee salaries owed for Monday and Tuesday of a five-day workweek: weekly payroll. $15.000.b. Unearned service revenue earned, $800.c. Depreciation, $3,200.d. Prepaid insurance expired.
E3-7 Journalize the adjusting entry needed at December 31 for each of the following independent situations.a. On July 1, when we collected $10,000 rent in advance, we debited Cash and credited Unearned Rent Revenue. The tenant was paying for one year's rent in advance.b. The business owes interest
E3-8 The accounting records of Lane Ginsburg. Architect, include the following unadjusted balances at March 31: Accounts Receivable. $1.000; Supplies. $600: Salary Payable, $0: Unearned Service Revenue. $400: Service Revenue, $4,700: Salary Expense. $1,200: Supplies Expense. $0. Ginsburg's
E3-9 The adjusted trial balance of Signet Repair Company is incomplete. Enter the adjustment amounts directly in the adjustment columns of the text. Service Revenue is the only account affected by more than one adjustment.SIGNET REPAIR COMPANY Preparation of Adjusted Trial Balance May 31, 20X2

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