The trial balance of Super Employment Services pertains to December 31, 2017, the end of Super’s annual accounting period. Data needed for the adjusting entries

include the following:

a. Supplies on hand at year-end, $200.

b. Depreciation on furniture, $2,000.

c. Depreciation on building, $1,000.

d. Salaries owed but not yet paid, $500.

e. Accrued service revenue, $1,300.

f. $3,000 of the unearned service revenue has been earned.

Requirements

(1) Open the ledger accounts in T-account form with their unadjusted balances as shown for Accounts receivable

 

Transcribed Image Text:

Problem 4 The trial balance of Super Employment Services pertains to December 31, 2017, the end of Super's annual accounting period. Data needed for the adjusting entries include the following Supplies on hand at year-end, $200. b. Depreciation on furniture, $2,000 e Depreciation on building. $1,000 d. Salaries owed but not yet paid, $500 e. Accrued service revenue, $1,300 £ $3,000 of the unearned service revenue has been carned. Requirements (1) Open the ledger accounts in T-account form with their unadjusted balances a shown for Accounts receivable (2) Journalize Super's adjusting entries at December 31, 2017. (3) Post the adjusting entries. (4) Write the trial balance on a worksheet, enter the adjusting entries, and prepare an adjusted trial balance Accounts receivable 5,000 (5) Prepare the income statement, the statement of owner's equity, and the balance sheet Draw arrows linking the three financial statements. SUPER EMPLOYMENT SERVICES Trial Balance December 31, 2017 Account Title Cash Accounts receivable Supplies Furniture Accumulated depreciation-furniture Building Accumulated depreciation-building Accounts payable Unearned service revenue Modge, capital Mudge, drawing Service revence Salary expense Supplies expense Depreciation expense-furniture Depreciation expense-building Advertising expete Total Debit $6,000 5,000 1,000 10,000 50,000 25,000 16,000 3,000 $116,000 Balance Credit $4,000 30,000 2,000 8,000 12,000 60,000 $116,000 Problem 4 The trial balance of Super Employment Services pertains to December 31, 2017, the end of Super's annual accounting period. Data needed for the adjusting entries include the following Supplies on hand at year-end, $200. b. Depreciation on furniture, $2,000 e Depreciation on building. $1,000 d. Salaries owed but not yet paid, $500 e. Accrued service revenue, $1,300 £ $3,000 of the unearned service revenue has been carned. Requirements (1) Open the ledger accounts in T-account form with their unadjusted balances a shown for Accounts receivable (2) Journalize Super's adjusting entries at December 31, 2017. (3) Post the adjusting entries. (4) Write the trial balance on a worksheet, enter the adjusting entries, and prepare an adjusted trial balance Accounts receivable 5,000 (5) Prepare the income statement, the statement of owner's equity, and the balance sheet Draw arrows linking the three financial statements. SUPER EMPLOYMENT SERVICES Trial Balance December 31, 2017 Account Title Cash Accounts receivable Supplies Furniture Accumulated depreciation-furniture Building Accumulated depreciation-building Accounts payable Unearned service revenue Modge, capital Mudge, drawing Service revence Salary expense Supplies expense Depreciation expense-furniture Depreciation expense-building Advertising expete Total Debit $6,000 5,000 1,000 10,000 50,000 25,000 16,000 3,000 $116,000 Balance Credit $4,000 30,000 2,000 8,000 12,000 60,000 $116,000

Answer rating: 100% (QA)

Journal Entry Account Supplies Expense Supplies Depreciation Expen... View the full answer