Question: Tuna Programming is owned by John Kulak and provides computer solutions to the hospitality industry. At the end of October 2021, they had the following
Tuna Programming is owned by John Kulak and provides computer solutions to the hospitality industry. At the end of October 2021, they had the following adjustments. Oct 31 Interest of $570 had accrued on the bank loan. Oct 31 The balance of prepaid rent is for a 11-month lease, one month of rent has been used. Oct 31 During October, Tuna Programming earned $520 of unearned revenue. Oct 31 Required The computers were purchased on October 1, 2021 and have an expected useful life of five years, after which they will have no residual value. Record depreciation for October 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. Tuna Programming Worksheet October 31, 2021 Unadjusted Trial Adjustments Adjusted Trial Balance Balance DR CR DR CR DR CR 4,500 Account Cash Accounts Receivable 2,640 Unadjusted Trial VULUBOT ST, EVET Adjustments Balance Account DR CR DR Cash 4,500 Accounts Receivable 2,640 Prepaid Rent 14,300 Computers 7,200 Accumulated Depreciation- Computers Accounts Payable 2,100 Interest Payable Unearned Revenue 5,000 Bank Loan 3,590 Kulak, Capital 17,040 Kulak, Withdrawals 1,590 C Adjusted Trial Balance CR CR DR counts Payable terest Payable 2,100 nearned Revenue 5,000 ank Loan 3,590 Zulak, Capital 17,040 Kulak, Withdrawals 1,590 4,710 Service Revenue Depreciation Expense Rent Expense Interest Expense Insurance Expense 1,930 Telephone Expense 280 Total 32,440 32,440 You
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
