PS Music Unadjusted Trial Balance na Ny31, 2018 GENERAL LEDGER Account Debit Bal

Question

PS Music Unadjusted Trial Balance na Ny31, 2018 GENERAL LEDGER Account Debit Balances-Bala Credit Account Balances Balances 9,945 2,750 1,020 2,700 7,500 Supplies Office Equipment Accounts Payable 8,350 7,200 9,000 23 Common Stock Dividends Fees Earned. ... Wages Expense.. Office Rent Expense Equipment Rent Expense Utilities Expense 1,750 2,550 1,375 1,215 3,610 1,500 180 1,855 40,750 53 Music Expense Advertising Expense Miscellaneous Expense 40,750 The data needed to determine adjustments are as follows: . During July, PS Music provided guest disc jockeys for KXMD for a total of 115 hours. For information on the amount of the accrued revenue to be billed to KXMD, see the contract described in the July 3 transaction at the end of Chapter 2. Supplies on hand at July 31, $275. The balance of the prepaid insurance account relates to the July 1 transaction at the end of Chapter 2. Depreciation of the office equipment is $50. The balance of the unearned revenue account relates to the contract between PS Music and OMD, described in the July 3 transaction at the end of Chapter 2. . · Accrued wages as of July 31 were $140. Instructions 1. Prepare adjusting journal entries. You will need the following additional accounts: 18 Accumulated Depreciation-Office Equipment 22 Wages Payable 57 Insurance Expense 58 Depreciation Expense 2. Post the adjusting entries, inserting balances in the accounts affected. 3. Prepare an adjusted trial balance.

Explanation / Answer

1. The details from the July 3 transactio are not provided.

2.Journal entry will be as follows

3. The details of the July1 transaction at the end of chapter 2 are to be given.

4. The journal entry is shown below.

4. The details of the July3 transaction need to be given.

5.The journal entry is shonw below

Date Account Debit Credit July31,2018 Supplies expense $745 Supplies $745 (To record the supplies expense)

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.