Question: Please help solve by doing number one, two, then three. Will give a thumbs up, Thank you! Acctg1A HW chap 3 Example Co was just
Acctg1A HW chap 3 Example Co was just started in Dec and this is the unadjusted Trial Balance Example Company Number 3 Adjust the Trial Balance Trial Balance Dec 31, 2020 Number 1 Put the Trial Balance into accounts Debit Credit Cash $ 6,000 Accounts Receivable $ 8,000 Prepaid Insurance $ 12,000 Supplies $ 4,500 Buildings $ 50,000 Accounts Payable $ 7,000 Mortgage payable $ 20,000 Unearned Rent Revenue $ 14,000 Common stock $ 20,000 Retained earnings $ 10,000 Rent revenue $ 20,000 Salary Expense $ 7,500 Rent Expense $ 2,000 Utilities Expense $ 1,000 $ 91,000 $ 91,000 Totals Number 2 Make the following adjustment journals and add to the T accounts 1 A count of supplies shows we have $3,000 remaining. Adjust the Supplies account 2 Depreciation on the building for the month is $500. Record the depreciation for Dec. 3 The mortage payable is a loan 6%/yr. Record Dec. Interest 4 We can recognize 7,000 of the unearned rent Revenue this month. Make the journal. 5 the Prepaid insurance of 12,000 is for 6 months. Record one month adjustment Account Debit Credit 1 2 3
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