The July 31, 2020, unadjusted trial balance for Daimler Tours after its first month of operations is shown below:

Required

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

2. Using the following additional information, enter the adjustments into the work sheet (the Chart of Accounts in Appendix IV may be useful when additional accounts are required):

a. Interest of $40 had accrued on the note receivable by month-end.

b. The July utility bill for $175 was received in the mail on July 31. It is unpaid and unrecorded.

c. Depreciation on the furniture for the month of July is $210.

d. The balance in Prepaid Insurance is from a six-month policy that went into effect on July 1, 2020.

e. The company has two part-time employees, each of whom gets paid $315 every other Friday for a fiveday part-time workweek. July 31 falls on a Friday, however two days of accrued wages need to be recorded for each employee.

f. At July 31, it was determined that $4,900 of the balance in Unearned Tour Revenue was not yet earned.

g. Accrued tour revenue of $1,600 was unrecorded and uncollected at July 31.

3. Complete the work sheet.

Transcribed Image Text:

Daimler Tours Trial Balance.xIsx Home Page Layout Fomulas Data Insert Review View P18 A в Daimler Tours Unadjusted Trial Balance July 31, 2020 3 4 Unadjusted Trial Balance 6 No. 7 101 Cash 8 106 Accounts receivable Cr. Account Dr. $ 9,100 18,700 111 Notes receivable, due Feb. 2021 16,000 10 128 Prepaid insurance 5,100 11 161 Furniture 6,750 $ 6,925 12 201 Accounts payable 13 230 Unearned tour revenue 12,430 14 301 Jan Rider, capital 60,975 15 302 Jan Rider, withdrawals -0- 16 403 Tour revenue 16,700 17 623 Wages expense 41,380 $ 97,030 $ 97,030 Totals 18