ACCOUNTS Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Prepa

Question

ACCOUNTS Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Prepaid Rent Prepaid Interest Office Equipment Accumulated Depreciation-Office Equipment Notes Payable Accounts Payable Interest Payable Unearned Income Kay Dakota, Capital Kay Dakota, Drawing Fees Income Salaries Expense Supplies Expense Rent Expense Depreciation Expense-0ffice Equipment Interest Expense BALANCE $ 15,085 Dr. 10, 300 Dr 315 Cr 840 Dr. 8,700 Dr 16,000 Dr 28,000 Cr. 810 Dr. 890 Cr 700 Cr. 19,170 Cr. 4,500 Dr 18,400 Cr. 11,240 Dr Adjustments: (a) On July 31, an inventory of the supplies showed that items costing $630 were on hand (b) On July 1, the firm paid $8,700 in advance for 6 months rent (c) On July 1, the firm paid $810 interest in advance on a 3-month note that it issued to the bank (d) On July 2, the firm purchased office equipment for $16,000. The office equipment is expected to have a useful life of 5 years and a salvage value of $1,000 (e) On July 1, the firm issued a 3-month, 8 percent note for $7,800. (f) During July, the firm received $700 from customers in advance of providing services. An Analyze of the firm's records shows that the full amount applies to services provided in July Prepare the Trial Balance, Adjustments, and Adjusted Trial Balance sections of a worksheet.

Explanation / Answer

Trial Balance

Adjustments :

Adjusted Trial Balance

Dr Cr Cash 15085 Accounts receivable 10300 Allowance for Doubtful debts 315 Supplies 840 Prepaid rent 8700 Prepaid interest 810 Office equipment 16000 Notes payable 28000 Accounts payable 890 Unearned income 700 kay dakota ,capital 19170 kay dakota ,drawing 4500 Fees income 18400 Salaries expense 11240 67475 67475

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