The trial balance of the New Decors for the month ended September 30 is as follows...
The trial balance of the New Decors for the month ended September 30 is as follows
|
Account name |
Debit |
Credit |
|
Cash |
4,378 |
|
|
Supplies |
1,864 |
|
|
Prepaid insurance |
1,345 |
|
|
Equipment |
30,978 |
|
|
Accumulated depreciation equipment |
15,235 |
|
|
Accounts payable |
3,751 |
|
|
R Becker, capital |
44,208 |
|
|
R Becker, Drawing |
20,445 |
|
|
Income from service |
44,791 |
|
|
Wages expense |
29,761 |
|
|
Rent expense |
15,932 |
|
|
Utilities expense |
1,573 |
|
|
Telephone expense |
1,271 |
|
|
Miscellaneous expense |
438 |
|
|
107,985 |
107,985 |
Data for the adjustments are as follows
- Expired or used – up insurance, $425
- Depreciation expense on equipment, $2,750
- Wages accrued or earned since the last payday, $475 (owed and to be paid on the next day)
- Supplies remaining at end of month, $215
Required
- Complete a work sheet (skip this step if using GL)
- Journalize the adjusting entries
Homework Answers
| Work Sheet | ||||||
| ForMonth Ended December 21 20- | ||||||
| Trial Balance | Adjustment | Adjustment trial Balance | ||||
| Account Name | Debit | Credit | Debit | Credit | Debit | Credit |
| Cash | 4,378 | 4,378 | ||||
| Supplies | 1,864 | 1,649 | 215 | |||
| Prepaid insurance | 1,345 | 425 | 920 | |||
| Equipment | 30,978 | 30,978 | ||||
| Accumulated depreciation equipment | 15,235 | 2750 | 17,985 | |||
| Accounts payable | 3,751 | 0 | 3,751 | |||
| Wages Outstanding | 475 | 475 | ||||
| R Becker, capital | 44,208 | 0 | 44,208 | |||
| R Becker, Drawing | 20,445 | 20,445 | ||||
| Income from service | 44,791 | 0 | 44791 | |||
| Wages expense | 29,761 | 475 | 30,236 | |||
| Rent expense | 15,932 | 15,932 | ||||
| Insurance Expense | 425 | 425 | ||||
| Depreciation expense | 2750 | 2,750 | ||||
| Supplies Expense | 1,649 | 1,649 | ||||
| Utilities expense | 1,573 | 1,573 | ||||
| Telephone expense | 1,271 | 1,271 | ||||
| Miscellaneous expense | 438 | 438 | ||||
| 1,07,985 | 1,07,985 | 5299 | 5299 | 111210 | 111210 | |
| Journalize the adjusting entries | ||
| Dr | CR | |
| Insurance Expense | 425 | |
| Prepaid insurance | 425 | |
| (Expired or used – up insurance, $425) | ||
| Depreciation expense | 2750 | |
| Accumulated depreciation equipment | 2750 | |
| (Depreciation expense on equipment) | ||
| Wages expense | 475 | |
| Wages Outstanding | 475 | |
| (Being Wages outstanding) | ||
| Supplies Expense | 1,649 | |
| Supplies | 1,649 | |
| (Being Supplies of $1649 used) | ||
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