Question: how do i prepare the adjusting entries that were made with this information? The trial balances before and after adjustment for Wildhorse Company at the
how do i prepare the adjusting entries that were made with this information?
The trial balances before and after adjustment for Wildhorse Company at the end of its fiscal year are presented below.
| WILDHORSE COMPANY Trial Balance August 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Before Adjustment | After Adjustment | |||||||
| Dr. | Cr. | Dr. | Cr. | |||||
| Cash | $ 10,300 | $ 10,300 | ||||||
| Accounts Receivable | 8,500 | 9,600 | ||||||
| Supplies | 2,400 | 500 | ||||||
| Prepaid Insurance | 3,700 | 2,700 | ||||||
| Equipment | 12,400 | 12,400 | ||||||
| Accumulated DepreciationEquipment | $ 3,500 | $ 4,400 | ||||||
| Accounts Payable | 5,800 | 5,800 | ||||||
| Salaries and Wages Payable | 0 | 1,400 | ||||||
| Unearned Rent Revenue | 1,400 | 800 | ||||||
| Owners Capital | 13,300 | 13,300 | ||||||
| Service Revenue | 34,200 | 35,300 | ||||||
| Rent Revenue | 10,800 | 11,400 | ||||||
| Salaries and Wages Expense | 16,900 | 18,300 | ||||||
| Supplies Expense | 0 | 1,900 | ||||||
| Rent Expense | 14,800 | 14,800 | ||||||
| Insurance Expense | 0 | 1,000 | ||||||
| Depreciation Expense | 0 | 900 | ||||||
| $ 69,000 | $ 69,000 | $ 72,400 | $ 72,400![]() | |||||
antones D C o Stanos . concorrect OF
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock

