The adjusted trial balances of Allied Coatings, Inc., at October 31, 2016, and October 31, 2017, include
Question:
The adjusted trial balances of Allied Coatings, Inc., at October 31, 2016, and October 31, 2017, include these amounts:
Analysis of the accounts at October 31, 2017, reveals these transactions for the past 12 months:
Purchase of supplies ....................................... $9,100
Cash payments for salaries ............................... 59,800
Cash receipts in advance for service revenue ........... 104,800
Requirement
Compute the amount of supplies expense, salaries expense, and service revenue Allied Coatings, Inc., will report for the year ended October 31, 2017. Solve by making T-accounts and posting the information to solve for the unknown amounts?
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