Prepare the appropriate adjusting entries on January 31, 2014. HINT: Where might you look to find information to prepare the adjusting entries?

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Phantom Consulting Inc. Unadjusted Trial Balance January 31, 2014 Cash Accounts receivable Prepaid insurance Equipment... Building. Accumulated depreciation, building. Accounts payable... Unearned consulting revenue Share capital Dividends Retained earnings. Consulting revenue earned Salaries expense Advertising expense Food and drinks expense.. Property taxes expense... Repair expense.... Totals Debit 198,893 106,600 2,400 20,400 4,000 Credit 4,000 163,000 19,800 107,000 7,830 50,000 15,087 17,100 800 164 600 358,887 358,887 Phantom Consulting Inc. Unadjusted Trial Balance January 31, 2014 Cash Accounts receivable Prepaid insurance Equipment... Building. Accumulated depreciation, building. Accounts payable... Unearned consulting revenue Share capital Dividends Retained earnings. Consulting revenue earned Salaries expense Advertising expense Food and drinks expense.. Property taxes expense... Repair expense.... Totals Debit 198,893 106,600 2,400 20,400 4,000 Credit 4,000 163,000 19,800 107,000 7,830 50,000 15,087 17,100 800 164 600 358,887 358,887

Answer rating: 100% (QA)

Journal entry in the books of Phantom consulting Inc Jan 31... View the full answer