Alert Security Services Co. offers security services to business clients. The tr
ID: 2490406 • Letter: A
Question
Alert Security Services Co. offers security services to business clients. The trial balance for Alert Security Services Co. has been prepared on the following end-of-period spreadsheet for the year ended October 31, 2016:
The data for year-end adjustments are as follows:
Enter the adjustment data, and place the balances in the Adjusted Trial Balance columns. Leave cells blank that do not require an entry.
Enter the adjustment data, and place the balances in the Adjusted Trial Balance columns. Leave cells blank that do not require an entry.
Alert Security Services Co.
End-of-Period Spreadsheet
For the Year Ended October 31, 2016
1
Unadjusted
Unadjusted
Adjusted
Adjusted
2
Trial Balance
Trial Balance
Adjustments
Adjustments
Trial Balance
Trial Balance
3
Debit
Credit
Debit
Credit
Debit
Credit
4
Cash
12.00
5
Accounts Receivable
90.00
6
Supplies
8.00
7
Prepaid Insurance
12.00
8
Land
190.00
9
Equipment
50.00
10
Accumulated Depreciation-Equipment
4.00
11
Accounts Payable
36.00
12
Wages Payable
0.00
13
Brenda Schultz, Capital
260.00
14
Brenda Schultz, Drawing
8.00
15
Fees Earned
200.00
16
Wages Expense
110.00
17
Rent Expense
12.00
18
Insurance Expense
0.00
19
Utilities Expense
6.00
20
Supplies Expense
0.00
21
Depreciation Expense
0.00
22
Miscellaneous Expense
2.00
23
Totals
$500.00
$500.00
Alert Security Services Co. End-of-Period Spreadsheet For the Year Ended October 31, 2016 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Title Debit Credit Debit Credit Debit Credit Cash 12 Accounts Receivable 90 Supplies 8 Prepaid Insurance 12 Land 190 Equipment 50 Accum. Depr.—Equipment 4 Accounts Payable 36 Wages Payable 0 Brenda Schultz, Capital 260 Brenda Schultz, Drawing 8 Fees Earned 200 Wages Expense 110 Rent Expense 12 Insurance Expense 0 Utilities Expense 6 Supplies Expense 0 Depreciation Expense 0 Miscellaneous Expense 2 500 500Explanation / Answer
Answers
---Fees earned but not billed will be billed by debiting accounts receivables and crediting fees earned a/c by $13.
---Difference between unadjusted supplies balance and supplies on hand will be debited to Supplies expense and credited to Supplies a/c. Amount = $ 8 – $4 = $4
---Insurance expired of $10 is debited to insurance expense and credited to Prepaid insurance.
---Depreciation expense of $3 is debited to Depreciation expense and credited to Accumulated depreciation.
---Wages accrued of $1 are debited to wages expenses and credited to Wages payable a/c.
1
Unadjusted
Adjustments
Adjusted
2
Trial Balance
Trial Balance
Adjustments
Adjustments
Trial Balance
Trial Balance
3
Debit
Credit
Debit
Credit
Debit
Credit
4
Cash
$ 12.00
$ 12.00
5
Accounts Receivable
$ 90.00
$ 13.00
$ 103.00
6
Supplies
$ 8.00
$ 4.00
$ 4.00
7
Prepaid Insurance
$ 12.00
$ 10.00
$ 2.00
8
Land
$ 190.00
$ 190.00
9
Equipment
$ 50.00
$ 50.00
10
Accumulated Depreciation-Equipment
$ 4.00
$ 3.00
$ 7.00
11
Accounts Payable
$ 36.00
$ 36.00
12
Wages Payable
$ -
$ 1.00
$ 1.00
13
Brenda Schultz, Capital
$ 260.00
$ 260.00
14
Brenda Schultz, Drawing
$ 8.00
$ 8.00
15
Fees Earned
$ 200.00
$ 13.00
$ 213.00
16
Wages Expense
$ 110.00
$ 1.00
$ 111.00
17
Rent Expense
$ 12.00
$ 12.00
18
Insurance Expense
$ -
$ 10.00
$ 10.00
19
Utilities Expense
$ 6.00
$ 6.00
20
Supplies Expense
$ -
$ 4.00
$ 4.00
21
Depreciation Expense
$ -
$ 3.00
$ 3.00
22
Miscellaneous Expense
$ 2.00
$ 2.00
23
Totals
$ 500.00
$ 500.00
$ 31.00
$ 31.00
$ 517.00
$ 517.00
1
Unadjusted
Adjustments
Adjusted
2
Trial Balance
Trial Balance
Adjustments
Adjustments
Trial Balance
Trial Balance
3
Debit
Credit
Debit
Credit
Debit
Credit
4
Cash
$ 12.00
$ 12.00
5
Accounts Receivable
$ 90.00
$ 13.00
$ 103.00
6
Supplies
$ 8.00
$ 4.00
$ 4.00
7
Prepaid Insurance
$ 12.00
$ 10.00
$ 2.00
8
Land
$ 190.00
$ 190.00
9
Equipment
$ 50.00
$ 50.00
10
Accumulated Depreciation-Equipment
$ 4.00
$ 3.00
$ 7.00
11
Accounts Payable
$ 36.00
$ 36.00
12
Wages Payable
$ -
$ 1.00
$ 1.00
13
Brenda Schultz, Capital
$ 260.00
$ 260.00
14
Brenda Schultz, Drawing
$ 8.00
$ 8.00
15
Fees Earned
$ 200.00
$ 13.00
$ 213.00
16
Wages Expense
$ 110.00
$ 1.00
$ 111.00
17
Rent Expense
$ 12.00
$ 12.00
18
Insurance Expense
$ -
$ 10.00
$ 10.00
19
Utilities Expense
$ 6.00
$ 6.00
20
Supplies Expense
$ -
$ 4.00
$ 4.00
21
Depreciation Expense
$ -
$ 3.00
$ 3.00
22
Miscellaneous Expense
$ 2.00
$ 2.00
23
Totals
$ 500.00
$ 500.00
$ 31.00
$ 31.00
$ 517.00
$ 517.00
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