Q No.4 The unadjusted trial balance of Christine Salomon, at July 31, 2015, and the related...

 

Transcribed Image Text:

Q No.4 The unadjusted trial balance of Christine Salomon, at July 31, 2015, and the related month- end adjustment data follow. Cash Accounts receivable Prepaid rent Supplies Furniture Accumulated depreciation-Furniture Accounts payable Unearned Service revenue Salomon, capital Salomon, Drawing Accounting service revenue Salary expense Utilities expense DONALD TRUMP, CPA Trial Balance July 31, 2015 Total Rs. 10,600 11,600 8,000 800 28,800 4,000 2,400 550 Rs. 3,500 3,450 5,000 43,050 11,750 Rs.66,750 Rs.66,750 Adjustment data: a. Accrued accounting service revenue at July 31, Rs.2200. b. Prepaid rent expired during the month. The unadjusted prepaid balance of Rs.8,000 relates to the period July through October. c. Supplies on hand at July 31, Rs.200. d. Depreciation on furniture for the month. The estimated useful life of the furniture is 10 years. e. Accrued salary expense at July 31 for two days only. The five-day weekly payroll is Rs.2,000. f. Some clients paid in advance, service department reported that firm earned Rs.4500 out of total amount received in advance. g. Bad debts estimated 4% of Account receivable Required Prepare adjusting entries in General Journal. (marks-05) Q No.4 The unadjusted trial balance of Christine Salomon, at July 31, 2015, and the related month- end adjustment data follow. Cash Accounts receivable Prepaid rent Supplies Furniture Accumulated depreciation-Furniture Accounts payable Unearned Service revenue Salomon, capital Salomon, Drawing Accounting service revenue Salary expense Utilities expense DONALD TRUMP, CPA Trial Balance July 31, 2015 Total Rs. 10,600 11,600 8,000 800 28,800 4,000 2,400 550 Rs. 3,500 3,450 5,000 43,050 11,750 Rs.66,750 Rs.66,750 Adjustment data: a. Accrued accounting service revenue at July 31, Rs.2200. b. Prepaid rent expired during the month. The unadjusted prepaid balance of Rs.8,000 relates to the period July through October. c. Supplies on hand at July 31, Rs.200. d. Depreciation on furniture for the month. The estimated useful life of the furniture is 10 years. e. Accrued salary expense at July 31 for two days only. The five-day weekly payroll is Rs.2,000. f. Some clients paid in advance, service department reported that firm earned Rs.4500 out of total amount received in advance. g. Bad debts estimated 4% of Account receivable Required Prepare adjusting entries in General Journal. (marks-05)

Answer rating: 100% (QA)

To prepare the adjusting entries for Christine Salomons accounting records the following entries can ... View the full answer