The trial balance for Pioneer Advertising is shown below Trial Balance October 3

Question

The trial balance for Pioneer Advertising is shown below Trial Balance October 31, 2017 Credit $16,000 2,300 600 5,800 Prepaid Insurance Equipment Notes Payable Accounts Payable Unearned Service Revenue $4,300 2,500 1,500 9,900 Sts Owner's Capital Owner's Drawings 700 Service Revenue 11.500 Salaries and Wages Expense Rent Expense 3,400 900 $29,700 529,700 Assume the following adjustment data 1 Supplies on hand at October 31 total $400 2. Expired insurance for the month is $300 3. Depreciation for the month is $70 4. Services related to unearned service revenue in October worth $700 were performed S. Services performed but not recorded at October 31 are $400 6. Interest accrued at October 31 is $70. 7. Accrued salaries at October 31 are $1,000 Prepare the adjusting entries for the items above. (Credit acco unt titles are automatically indented when the amount is entered. Do Date Account Titles and Explanaticn Debit Creht 1. Oct. 31 2. Oct. 31 Oct.31

Explanation / Answer

No. Date Accounts Tittle and Explaination Debit Credit 1 Oct-31 Supplies Expense $ 1,900 Supplies Expense $ 1,900 (Supplies Balance is $2,300 less $400 on hand supplies = $1,900 Supplies Used) 2 Oct-31 Insurance Expense $     300 Prepaid Insurance $     300 3 Oct-31 Depreciation Expense $       70 Accumulated Depreciation - Equipment $       70 4 Oct-31 Unearned Service Revenue $     700 Service Revenue $     700 5 Oct-31 Accounts Receivable $     400 Service Revenue $     400 6 Oct-31 Interest Expense $       70 Interest Payable $       70 7 Oct-31 Salarie Expense $ 1,000 Salaries Payable $ 1,000

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