Exercise 4-11 The unadjusted trial balance for Flint Corporation is shown below.

Question

Exercise 4-11

The unadjusted trial balance for Flint Corporation is shown below.

FLINT CORPORATION
Trial Balance
October 31, 2017

$32,100

$32,100

Assume the following adjustment data.

Prepare the adjusting entries for the items above. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

No.

Date

Account Titles and Explanation

Debit

Credit

Open Show Work

FLINT CORPORATION
Trial Balance
October 31, 2017

Debit Credit Cash $15,480 Supplies 3,000 Prepaid Insurance 660 Equipment 4,550 Notes Payable $4,550 Accounts Payable 2,110 Unearned Service Revenue 1,920 Common Stock 10,280 Retained Earnings 0 Dividends 630 Service Revenue 13,240 Salaries and Wages Expense 4,000 Rent Expense 3,780

$32,100

$32,100

Explanation / Answer

1 31-Oct Supplies Expense 2330 =3000-670        Supplies 2330 2 31-Oct Insurance Expense 110        Prepaid Insurance 110 3 31-Oct Depreciation Expense 105        Accumulated Depreciation-Equipment 105 4 31-Oct Unearned Service Revenue 930        Service Revenue 930 5 31-Oct Accounts Receivable 330        Service Revenue 330 6 31-Oct Interest Expense 80         Interest Payable 80 7 31-Oct Salaries and Wages Expense 1560         Salaries and Wages Payable 1560

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