The trial balances shown on below are before and after adjustment for Ivy Company at the end
Question:
Instructions
Prepare the adjusting entries that weremade.
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IVY COMPANY Trial Balance August 31, 2010 Before Adjustment After Adiustment Cash Accounts Receivable Office Supplies Prepaid Insurance Office Equipment Accumulated Depreciation- Office Equipment Accounts Payable Salaries Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Salaries Expense Office Supplies Expense Rent Expense Insurance Expense Depreciation Expense $10,900 8,800 2,500 4,000 16,000 $10,900 9,400 500 2,500 16,000 3,600 5,800 0 1,800 10,000 5,600 $ 4,800 5,800 1,100 900 10,000 5,600 2,800 2,800 34,000 13,200 34,600 14,100 17,000 0 12,000 0 0 18,100 2,000 12,000 1,500 1,200 $74,000 $74,000 $76,900 $76,900
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-0470239803
5th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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