Salmon Fisheries is owned by John Kulak and provides fish products to the fishing industry. At...

  

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Salmon Fisheries is owned by John Kulak and provides fish products to the fishing industry. At the end of April 2019, they had the following adjustments. Apr 30 Interest of $400 had accrued on the bank loan. Apr 30 The balance of prepaid insurance is for a 4-month policy, one month of insurance has been used. Apr 30 During April, Salmon Fisheries earned $860 of unearned revenue. The computers were purchased on April 1, 2019 and have an expected useful life of five years, after which they will have no residual value. Record depreciation for April Apr 30 Required Using the following trial balance, complete the adjustments and the adjusted trial balance in the worksheet. Do not enter dollar signs or commas in the input boxes. Required Using the following trial balance, complete the adjustments and the adjusted trial balance in the worksheet. Do not enter dollar signs or commas in the input boxes. Salmon Fisheries Worksheet April 30, 2019 Unadjusted Trial Balance Adjustments Adjusted Trial Balance CR Account DR CR DR CR DR Cash 3,800 Accounts Receivable 1,720 Prepaid Insurance 5,200 Computers 10,200 Accumulated Depreciation-Computers Accounts Payable 2,200 Interest Payable Unearned Revenue 2,400 Bank Loan 2,810 Kulak, Capital 12,440 Kulak, Withdrawals 1,890 Service Revenue 4,430 Depreciation Expense Insurance Expense Interest Expense Rent Expense 1,120 Telephone Expense 350 Total 24,280 24,280 Salmon Fisheries is owned by John Kulak and provides fish products to the fishing industry. At the end of April 2019, they had the following adjustments. Apr 30 Interest of $400 had accrued on the bank loan. Apr 30 The balance of prepaid insurance is for a 4-month policy, one month of insurance has been used. Apr 30 During April, Salmon Fisheries earned $860 of unearned revenue. The computers were purchased on April 1, 2019 and have an expected useful life of five years, after which they will have no residual value. Record depreciation for April Apr 30 Required Using the following trial balance, complete the adjustments and the adjusted trial balance in the worksheet. Do not enter dollar signs or commas in the input boxes. Required Using the following trial balance, complete the adjustments and the adjusted trial balance in the worksheet. Do not enter dollar signs or commas in the input boxes. Salmon Fisheries Worksheet April 30, 2019 Unadjusted Trial Balance Adjustments Adjusted Trial Balance CR Account DR CR DR CR DR Cash 3,800 Accounts Receivable 1,720 Prepaid Insurance 5,200 Computers 10,200 Accumulated Depreciation-Computers Accounts Payable 2,200 Interest Payable Unearned Revenue 2,400 Bank Loan 2,810 Kulak, Capital 12,440 Kulak, Withdrawals 1,890 Service Revenue 4,430 Depreciation Expense Insurance Expense Interest Expense Rent Expense 1,120 Telephone Expense 350 Total 24,280 24,280

Answer rating: 100% (QA)

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