Complete the worksheet using the excel file. Add your adjusting journal entries and complete the adjusted trial
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Question:
Complete the worksheet using the excel file.
Add your adjusting journal entries and complete the adjusted trial balance.
Do not do the financial statements, closing entries, or post-close trial balance.
The information for the adjusting journal entries are at the bottom of the tab- "adjusting entries"
Adjusting Journal Entries Info. | |||
Insurance that expired during December was $275.00 | |||
A physical count of the supplies indicated that $715.00 were on hand. | |||
Depreciation on office equipment for the period was $330.00 | |||
Salaries worked but not yet paid was $325.00 | |||
Monthly rent of $1600.00 was used during December. | |||
Unearned fees on December 31 are $3,210 | |||
TRIAL BALANCE | ADJUSTMENTS | ADJ TRIAL BALANCE | INCOME STATEMENT | BALANCE SHEET | ||||||
ACCOUNT TITLE | DEBIT | CREDIT | DEBIT | CREDIT | DEBIT | CREDIT | DEBIT | CREDIT | DEBIT | CREDIT |
Cash | 44,195 | |||||||||
Accounts Receivable | 8,080 | |||||||||
Supplies | 2,085 | |||||||||
Prepaid Rent | 3,200 | |||||||||
Prepaid Insurance | 1,500 | |||||||||
Office Equipment | 14,500 | |||||||||
Accumulated Depreciation | 330 | |||||||||
Accounts Payable | 895 | |||||||||
Salaries Payable | ||||||||||
Unearned Fees | 7,000 | |||||||||
Kelly Pitney, Capital | 42,300 | |||||||||
Kelly Pitney, Drawing | 10,500 | |||||||||
Fees Earned | 36,210 | |||||||||
Salary Expense | 1,380 | |||||||||
Rent Expense | ||||||||||
Supplies Expense | ||||||||||
Depreciation Expense | ||||||||||
Insurance Expense | ||||||||||
Miscellaneous Expense | 1,295 | |||||||||
86,735 | 86,735 | |||||||||
Net Income |
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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