In addition to those accounts listed on the trial balance, the chart of accounts
ID: 2388129 • Letter: I
Question
In addition to those accounts listed on the trial balance, the chart of accounts for Masasi Company also contains the following accounts and account numbers: No. 158 Accumulated Depreciation-Office Equipment, No. 212 Salaries Payable, No. 244 Utilities Payable, No. 631 Supplies Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 732 Utilities Expense.Other data:
Supplies on hand at June 30 are $600.
A utility bill for $150 has not been recorded and will not be paid until next month.
The insurance policy is for a year.
$2,500 of unearned service revenue has been earned at the end of the month.
Salaries of $2,000 are accrued at June 30.
The office equipment has a 5-year life with no salvage value. It is being depreciated at $250 per month for 60 months.
Invoices representing $1,000 of services performed during the month have not been recorded as of June 30.
Instructions
(a) Prepare the adjusting entries for the month of June. Use J3 as the page number for your journal.
(b) Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances. (If an amount should be blank, enter a zero. All boxes must be filled to be correct.)
nd it come with a adjusted trial balance help please
Explanation / Answer
(a)
J3
Date
Account Titles and Explanation
Ref.
Debit
Credit
2008
June 30
Supplies Expense..............................................
Supplies.................................................
($2,000 – $600)
631
126
1,400
1,400
30
Utilities Expense...............................................
Utilities Payable....................................
732
244
150
150
30
Insurance Expense...........................................
Prepaid Insurance................................
($3,000 ÷ 12 months)
722
130
250
250
30
Unearned Service Revenue.............................
Service Revenue....................................
209
400
2,500
2,500
30
Salaries Expense...............................................
Salaries Payable....................................
726
212
2,000
2,000
30
Depreciation Expense......................................
Accumulated Depreciation—
Office Equipment.............................
($15,000 ÷ 60 months)
711
158
250
250
30
Accounts Receivable........................................
Service Revenue....................................
112
400
1,000
1,000
(b)
Cash No. 101
Date
Explanation
Ref.
Debit
Credit
Balance
2008
June 30
Balance
7,150
Accounts Receivable No. 112
Date
Explanation
Ref.
Debit
Credit
Balance
2008
June 30
30
Balance
Adjusting
J3
1,000
6,000
7,000
Supplies No. 126
Date
Explanation
Ref.
Debit
Credit
Balance
2008
June 30
30
Balance
Adjusting
J3
1,400
2,000
600
Prepaid Insurance No. 130
Date
Explanation
Ref.
Debit
Credit
Balance
2008
June 30
30
Balance
Adjusting
J3
250
3,000
2,750
Office Equipment No. 157
Date
Explanation
Ref.
Debit
Credit
Balance
2008
June 30
Balance
15,000
Accumulated Depreciation—Office Equipment No. 158
Date
Explanation
Ref.
Debit
Credit
Balance
2008
June 30
Adjusting
J3
250
250
Accounts Payable No. 201
Date
Explanation
Ref.
Debit
Credit
Balance
2008
June 30
Balance
4,500
Unearned Service Revenue No. 209
Date
Explanation
Ref.
Debit
Credit
Balance
2008
June 30
30
Balance
Adjusting
J3
2,500
4,000
1,500
Salaries Payable No. 212
Date
Explanation
Ref.
Debit
Credit
Balance
2008
June 30
Adjusting
J3
2,000
2,000
Utilities Payable No. 244
Date
Explanation
Ref.
Debit
Credit
Balance
2008
June 30
Adjusting
J3
150
150
Common Stock No. 311
Date
Explanation
Ref.
Debit
Credit
Balance
2008
June 30
Balance
21,750
Service Revenue No. 400
Date
Explanation
Ref.
Debit
Credit
Balance
2008
June 30
30
30
Balance
Adjusting
Adjusting
J3
J3
2,500
1,000
7,900
10,400
11,400
Supplies Expense No. 631
Date
Explanation
Ref.
Debit
Credit
Balance
2008
June 30
Adjusting
J3
1,400
1,400
Depreciation Expense No. 711
Date
Explanation
Ref.
Debit
Credit
Balance
2008
June 30
Adjusting
J3
250
250
Insurance Expense No. 722
Date
Explanation
Ref.
Debit
Credit
Balance
2008
June 30
Adjusting
J3
250
250
Salaries Expense No. 726
Date
Explanation
Ref.
Debit
Credit
Balance
2008
June 30
30
Balance
Adjusting
J3
2,000
4,000
6,000
Rent Expense No. 729
Date
Explanation
Ref.
Debit
Credit
Balance
2008
June 30
Balance
1,000
Utilities Expense No. 732
Date
Explanation
Ref.
Debit
Credit
Balance
2008
June 30
Adjusting
J3
150
150
(c) MASASI COMPANY, INC.
Adjusted Trial Balance
June 30, 2008
Debit
Credit
Cash.............................................................................................
Accounts Receivable..................................................................
Supplies.......................................................................................
Prepaid Insurance......................................................................
Office Equipment.......................................................................
Accumulated Depreciation—Office
Equipment..............................................................................
Accounts Payable.......................................................................
Unearned Service Revenue.......................................................
Salaries Payable..........................................................................
Utilities Payable..........................................................................
Common Stock...........................................................................
Service Revenue.........................................................................
Supplies Expense........................................................................
Depreciation Expense................................................................
Insurance Expense.....................................................................
Salaries Expense.........................................................................
Rent Expense..............................................................................
Utilities Expense.........................................................................
$7,150
7,000
600
2,750
15,000
1,400
250
250
6,000
1,000
150
$41,550
$ 250
4,500
1,500
2,000
150
21,750
11,400
$41,550
Date
Account Titles and Explanation
Ref.
Debit
Credit
2008
June 30
Supplies Expense..............................................
Supplies.................................................
($2,000 – $600)
631
126
1,400
1,400
30
Utilities Expense...............................................
Utilities Payable....................................
732
244
150
150
30
Insurance Expense...........................................
Prepaid Insurance................................
($3,000 ÷ 12 months)
722
130
250
250
30
Unearned Service Revenue.............................
Service Revenue....................................
209
400
2,500
2,500
30
Salaries Expense...............................................
Salaries Payable....................................
726
212
2,000
2,000
30
Depreciation Expense......................................
Accumulated Depreciation—
Office Equipment.............................
($15,000 ÷ 60 months)
711
158
250
250
30
Accounts Receivable........................................
Service Revenue....................................
112
400
1,000
1,000
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