Question

E3-25 (similar to) Ques The unadjusted trial balance for Maid Up Company, a cleaning service, is as follows: (Click the icon to view the unadjusted trial balance.) During the 12 months ended December 31, 2018, Maid Up completed the following transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize the adjusting entries using the letter and December 31 date in the date column. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. Used office supplies of $1,200. Date Accounts and Explanation Debit Credit (a) Dec. 31 0 Transactions Requirements a. used office supplies of $1,200. used prepaid insurance of $620. depreciated equipment, $530. accrued salaries expense of $250 that hasn't been paid yet. earned $450 of unearned revenue. 1. Journalize the adjusting entries using the letter and December 31 date in the date column. 2. Post the adjustments to the T-accounts opened for you, entering each adjustment by letter. Show each account's adjusted balance. C.

Answer 1

Maid Up Company Journal entries Date Account a Supplies expense Office Supplies Credit Debit $ 1,200 $ 1,200 $ 620 Insurance expense Prepaid Insurance $ 620 $ 530 Depreciation expense-Equipment Accumulated Depreciation Equipment $ 530 $ 250 Salaries expense Salaries Payable $ 250 $ 450 Unearned Revenue Service Revenue $ 450

Maid Up Company T Accounts Date Debit Date Cash Unadj Bal $ 700 Credit Credit Credit Credit Date Debit Date Office Supplies Unadj Bal $ 2,000 Date Debit Date Prepaid Insurance Unadj Bal $ 700 Date Debit Date Equipment Unadj Bal $ 28,000 $ 1,200 $ 620 Bal. Bal. Bal. Bal. $ 700 Accumulated Depreciation Equipment Unadj Bal $ 3,000 $ 530 $ 800 Accounts Payable Unadj Bal $ 2,600 $ 80 Salaries Payable Unadj Bal $ $ $ 28,000 Unearned Revenue Unadj Bal $ $ 450 500 - 250 e Bal. $ 2,600 $ 50 $ 3,530 Common Stock Unadj Bal $ 15,300 Bal. Dividends Unadj Bal $ 3,000 Bal. $ 250 Service Revenue Unadj Bal $ 19,000 $ 450 $ 15,300 Bal. Salaries expense Unadj Bal $ 6,000 $ 250 Bal. $ 3,000 Supplies expense Unadj Bal $ - $ 1,200 Bal. $19,450 Depreciation expense-Equipment Unadj Bal $ - $ 530 Insurance expense Unadj Bal $ - b $ 620 Bal. $ 6,250 $ 1,200 Bal. $ 530 Bal. $ 620

Maid Up Company Account Names Cash Office Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Unearned Revenue Common Stock Dividends Service Revenue Salaries expense Supplies expense Depreciation expense-Equipment Insurance expense Totals Adjusted TB Debit Credit 700 800 80 28,000 3,530 2,600 250 50 15,300 3,000 19,450 6,250 1,200 530 620 41,180 41,180