Required information

P$4-7($Algo$)$ Recording Adjusting and Closing Entries and Preparing a Balance Sheet and Income Statement Including Earnings per Share L$04-1,4-2,4-4$

$[$The following information applies to the questions displayed below.$]$

Tunstall, Incorporated, a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period on December $31$:

$\backslash$table$[[\backslash$table$[[$Tunstall$,$ Incorporated$],[$Unadjusted Trial Balance$],[$At December $31]],,],[$Cash$,$Debit,Credit$],[$Accounts receivable,$\backslash$table$[[46,000],[12,000]],],[$Supplies$,570,],[\backslash$table$[[$Prepaid insurance$],[$Service trucks$]],680,],[$Accumulated depreciation,$16,400,9,400],[$other assets,,$],[\backslash$table$[[$Accounts payable$],[$Wages payable$]],,2,270],[$Income taxes payable,,$],[\backslash$table$[[$Notes payable $(3$ years; $10\%$ interest due each September$],[30)]],,16,000],[\backslash$table$[[$Common stock shares outstanding$)],[$Additional paid$-$in capital$]],,2,006],[\backslash$table$[[$Additional paid$-$in capital$],[$Retained earnings$]],,\backslash$table$[[18,054],[5,090]]],[\backslash$table$[[$Retained earnings$],[$Service revenue$]],,\backslash$table$[[5,000],[82,360]]],[$Wages expense,$16,200,],[\backslash$table$[[$Remaining expenses $($not detailed; excludes income tax$)],[$Income tax expense$]],33,280,],[$Totals$,135,090,135,090]]$

Data not yet recorded at December $31$ included:

a$.$ The supplies count on December $31$ reflected $$220$ in remainina supplies on hand to be used in the next vear.

Required information

P$4-7($Algo$)$ Recording Adjusting and Closing Entrles and Preparing a Balance Sheet and Income Statement Including Earnings per Share LO$4-1,4-2,4-4$

$[$The following information applies to the questions displayed below$]$

Tunstall, Incorporated, a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadusted trial balance as of the end of the annual accounting period on December $31$:

Data not yet recorded at December $31$ included:

a$.$ The supplies count on December $31$ reflected $$220$ in remaining supplies on hand to be used in the next year.

b$.$ Insurance expired during the current year, $$680.$

c$.$ Depreclation expense for the current year, $$4,000.$

d$.$ Wages earned by employees not yet pald on December $31,$$$590.$

e$.$ Three months of interest expense $($for the note payable borrowed on October $1$ of the current year$)$ was incurred in the current year.

t$.$ income tax expense, $$5,780.$

P$4-7$ Part $1$

Required:

Prepare the adjusting entry needed at December $31.$

Note: if no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

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Record the cost of supplies used during the year. Prepare the adjusting entry needed at December $31.$

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,$General Journal,Deblt,Credit$],[$a$.,,,],[,,,],[,,,],[,,,],[,,,]]$

View general journal