Question: Appendix: Adjustment Data on an End-of-Period Spreadsheet Alert Security Services Co. offers security services to business clients. The trial balance for Alert Security Services Co.
Appendix: Adjustment Data on an End-of-Period Spreadsheet
Alert Security Services Co. offers security services to business clients. The trial balance for Alert Security Services Co. has been prepared on the following end-of-period spreadsheet for the year ended October 31, 20Y5. In addition, the data for year-end adjustments are as follows:
- Fees earned but not yet billed, $18.
- Supplies on hand, $4.
- Insurance premiums expired, $22.
- Depreciation expense, $9.
- Wages accrued but not paid, $9.
Enter the adjustment data and place the balances in the Adjusted Trial Balance columns. If an amount box does not require an entry, leave it blank.
| Alert Security Services Co. End-of-Period Spreadsheet (Work Sheet) For the Year Ended October 31, 20Y5 | ||||||||||
| Unadjusted Trial Balance | Adjustments | Adjusted Trial Balance | ||||||||
| Account Title | Dr. | Cr. | Dr. | Cr. | Dr. | Cr. | ||||
| Cash | 66 | |||||||||
| Accounts Receivable | 176 | |||||||||
| Supplies | 18 | |||||||||
| Prepaid Insurance | 26 | |||||||||
| Land | 220 | |||||||||
| Equipment | 88 | |||||||||
| Accumulated Depreciation | 9 | |||||||||
| Accounts Payable | 79 | |||||||||
| Wages Payable | 0 | |||||||||
| Brenda Schultz, Capital | 413 | |||||||||
| Brenda Schultz, Drawing | 18 | |||||||||
| Fees Earned | 198 | |||||||||
| Wages Expense | 44 | |||||||||
| Rent Expense | 26 | |||||||||
| Insurance Expense | 0 | |||||||||
| Utilities Expense | 13 | |||||||||
| Supplies Expense | 0 | |||||||||
| Depreciation Expense | 0 | |||||||||
| Miscellaneous Expense | 4 | |||||||||
| Totals | 699 | 699 | ||||||||
Post-Closing Trial Balance
An accountant prepared the following post-closing trial balance:
| La Casa Services Co. Post-Closing Trial Balance March 31, 20Y6 | ||||
| Debit Balances | Credit Balances | |||
| Cash | 12,700 | |||
| Accounts Receivable | 28,190 | |||
| Supplies | 1,780 | |||
| Equipment | 125,600 | |||
| Accumulated Depreciation | 41,910 | |||
| Accounts Payable | 15,240 | |||
| Salaries Payable | 1,400 | |||
| Unearned Rent | 5,720 | |||
| Sonya Flynn, Capital | 104,000 | |||
| 207,760 | 128,780 | |||
Prepare a corrected post-closing trial balance. Assume that all accounts have normal balances and that the amounts shown are correct. If an amount box does not require an entry, leave it blank.
| La Casa Services Co. | ||
| Post-Closing Trial Balance | ||
| March 31, 20Y6 | ||
| Debit Balances | Credit Balances | |
| Cash | ||
| Accounts Receivable | ||
| Supplies | ||
| Equipment | ||
| Accumulated Depreciation | ||
| Accounts Payable | ||
| Salaries Payable | ||
| Unearned Rent | ||
| Sonya Flynn, Capital | ||
| Totals | ||
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
Study Help