Good Note Company UNADJUSTED TRIAL BALANCE November 30, 2016 ACCOUNT TITLE DEBIT
ID: 2420766 • Letter: G
Question
Good Note Company
UNADJUSTED TRIAL BALANCE
November 30, 2016
ACCOUNT TITLE
DEBIT
CREDIT
1
Cash
38,250.00
2
Accounts Receivable
89,500.00
3
Supplies
11,250.00
4
Prepaid Insurance
14,250.00
5
Equipment
290,450.00
6
Accumulated Depreciation-Equipment
94,500.00
7
Automobiles
129,500.00
8
Accumulated Depreciation-Automobiles
54,750.00
9
Accounts Payable
24,930.00
10
Salaries Payable
11
Unearned Service Fees
18,000.00
12
Common Stock
100,000.00
13
Retained Earnings
224,020.00
14
Dividends
75,000.00
15
Service Fees Earned
733,800.00
16
Salaries Expense
516,900.00
17
Rent Expense
54,000.00
18
Supplies Expense
19
Depreciation Expense-Equipment
20
Depreciation Expense-Automobiles
21
Utilities Expense
12,900.00
22
Taxes Expense
8,175.00
23
Insurance Expense
24
Miscellaneous Expense
9,825.00
25
Totals
1,250,000.00
1,250,000.00
Compare the unadjusted trial balance to the adjusted trial balance. Journalize the seven entries that adjusted the accounts at November 30. None of the accounts were affected by more than one adjusting entry. Refer to the Chart of Accounts for exact wording of account titles.
Good Note Company
ADJUSTED TRIAL BALANCE
November 30, 2016
ACCOUNT TITLE
DEBIT
CREDIT
1
Cash
38,250.00
2
Accounts Receivable
89,500.00
3
Supplies
2,400.00
4
Prepaid Insurance
3,850.00
5
Equipment
290,450.00
6
Accumulated Depreciation-Equipment
106,100.00
7
Automobiles
129,500.00
8
Accumulated Depreciation-Automobiles
62,050.00
9
Accounts Payable
26,130.00
10
Salaries Payable
8,100.00
11
Unearned Service Fees
9,000.00
12
Common Stock
100,000.00
13
Retained Earnings
224,020.00
14
Dividends
75,000.00
15
Service Fees Earned
742,800.00
16
Salaries Expense
525,000.00
17
Rent Expense
54,000.00
18
Supplies Expense
8,850.00
19
Depreciation Expense-Equipment
11,600.00
20
Depreciation Expense-Automobiles
7,300.00
21
Utilities Expense
14,100.00
22
Taxes Expense
8,175.00
23
Insurance Expense
10,400.00
24
Miscellaneous Expense
9,825.00
25
Totals
1,278,200.00
1,278,200.00
CHART OF ACCOUNTS Good Note Company General Ledger
ASSETS
11
Cash
12
Accounts Receivable
13
Supplies
14
Prepaid Insurance
16
Equipment
17
Accumulated Depreciation-Equipment
18
Automobiles
19
Accumulated Depreciation-Automobiles
LIABILITIES
21
Accounts Payable
22
Salaries Payable
23
Unearned Service Fees
EQUITY
31
Common Stock
32
Retained Earnings
33
Dividends
REVENUE
41
Service Fees Earned
EXPENSES
51
Salaries Expense
52
Rent Expense
53
Supplies Expense
54
Depreciation Expense-Equipment
55
Depreciation Expense-Automobiles
56
Utilities Expense
57
Taxes Expense
58
Insurance Expense
59
Miscellaneous Expense
Compare the unadjusted trial balance to the adjusted trial balance. Journalize the seven entries that adjusted the accounts at November 30. None of the accounts were affected by more than one adjusting entry. Refer to the Chart of Accounts for exact wording of account titles.
All transactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback.
JOURNAL
DATE
DESCRIPTION
POST. REF.
DEBIT
CREDIT
1
Adjusting Entries
2
3
4
5
6
7
8
9
10
11
12
13
14
15
I know it's alot but it's just to fill out the chart at the bottom
ACCOUNT TITLE
DEBIT
CREDIT
1
Cash
38,250.00
2
Accounts Receivable
89,500.00
3
Supplies
11,250.00
4
Prepaid Insurance
14,250.00
5
Equipment
290,450.00
6
Accumulated Depreciation-Equipment
94,500.00
7
Automobiles
129,500.00
8
Accumulated Depreciation-Automobiles
54,750.00
9
Accounts Payable
24,930.00
10
Salaries Payable
11
Unearned Service Fees
18,000.00
12
Common Stock
100,000.00
13
Retained Earnings
224,020.00
14
Dividends
75,000.00
15
Service Fees Earned
733,800.00
16
Salaries Expense
516,900.00
17
Rent Expense
54,000.00
18
Supplies Expense
19
Depreciation Expense-Equipment
20
Depreciation Expense-Automobiles
21
Utilities Expense
12,900.00
22
Taxes Expense
8,175.00
23
Insurance Expense
24
Miscellaneous Expense
9,825.00
25
Totals
1,250,000.00
1,250,000.00
Explanation / Answer
Journal entries
To Accumulated depreciation - Equipment
Debit Credit Supplies expense $8,850 To Supplies $8,850 Preapid expense $10,400 to Prepaid insuracne $10,400 Depreciation expense- Equipment $11,600To Accumulated depreciation - Equipment
$11,600 Depreciation expense - Automobiles $7,300 To Accumulated depreciation $7,300 Salary expense $8,100 To Salary payable $8,100 Utilities expense $1,200 To Account payable $1,200 Unearned service revenue $9,000 To Service fess $9,000Related Questions
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