Unadjusted Trial Balance December 31, 2010 Debit Credit Balances Balances Cash 1
ID: 2389761 • Letter: U
Question
Unadjusted Trial Balance
December 31, 2010
Debit Credit
Balances Balances
Cash 10,200
Accounts Receivable 34,750
Prepaid Insurance 6,000
Supplies 1,725
Land 50,000
Building 80,750
Accumulated Depreciation -- Building 37,850
Equipment 45,000
Accumulated Depreciation -- Equipment 17,650
Accounts Payable 3,750
Unearned Rent 3,600
Capital Stock 25,000
Retained Earnings 78,550
Dividends 8,000
Fees Earned 158,600
Salaries and Wages Expense 56,850
Utilities Expense 14,100
Advertising Expense 7,500
Repairs Expense 6,100
Miscellaneous Expense 4,025
325,000 325,000
The data needed to determine year end adustments are as follows: Depreciation of building for the year, $2,100. Depreciation of equipment for the year, $3000. Acrued salaries and wages at December 31, $800. Unexpired insurance at December 31, $1,500. Fees earned but unbilled on December 31, $2,150. Supplies on hand at December 31, $600. Rent unearned at December 31, $1,500.
Journalize the adjusting entries, adding additional accounts as needed.
Explanation / Answer
Salary payable
Insurance Expense
Unearned service Revenue
Rent
Adjusting Entries Date Details Debit Credit 31-Dec Depreciation 2,100 Buildings 2,100 (To record depreciation on buildings) Depreciation 3,000 Equipment 3,000 (To record depreciation on equipment) Salary expense 800 Salary payable 800 (To record accrued salaries and wages) Insurance expense 1,500 Prepaid Insurance expense 1,500 (To record unexpired insurance) Fees Earned 2,150 Unearned service Revenue 2,150 (To record unearned service revenue) Supplies 600 Accounts payable 600 (To record supplies on hand) Rent 1,500 Unearned Rent 1,500 (To record unearned rent)Related Questions
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