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Tobique records adjustments monthly. Adjustment data for the month of August are as follows:

1. One month’s worth of advertising services have been received.
2. The August rent has expired.
3. Accrued salaries payable are $1,670.
4. Depreciation for the month is $203.
5. Supplies on hand at August 31 are $1,000.
6. Services were performed to satisfy $790 of unearned revenue.
7. One month of interest revenue related to the $4,000 note receivable has accrued. The note was issued on June 30 and is due October 31 and has a 6% annual interest rate. Interest is due at maturity.
8. Income tax of $290 is estimated to be owed for the month of August.

required, select No Entry for the account titles and enter o for the amounts. Record journal Date Account Titles and Explan6. 31 Tunearned Revenue Service Revenue 7. 31 Interest Receivable 00000 Interest Revenue 8. 31 Income Tax Expense Income Tax

(B)

Post the August adjusting journal entries and calculate and enter end balances. (Post entries in the order of journal entries presented in the previous part. If the ending balance is 0 select Bal for the date and enter 0 for the normal balance for that account.)

v (02) Post the August adjusting journal entries and calculate and enter end balances. (Post entries in the order of journalAug. 31 Bal. Aug. 1 Bal. 3,040 4,110 Accounts Receivable 4,740 Aug. 6 4,400 6,100 Prepaid Advertising Aug. 27 Aug. 31 Bal. AuInterest Receivable Aug. 1 Bal. Aug. 1 Bal. Aug. 15 Aug. 31 Bal. Equipment 10,100 1,910 12,010 Accumulated Depreciation - EquAug. 10 1,460 Aug. 1 Bal. 1,460 Income Tax Payable Unearned Revenue Aug. 1 Bal. 1,380 Aug. 29 750 12,000 12,000 Common Shares   Supplies Expense Depreciation Expense Income Tax Expense Advertising Expense

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Answer #1

Prepaid Advertising

Aug 1

$440

Aug 31

$220

Aug 31 Bal.

$220

Supplies

Aug 1 Bal

$1030

Aug 31

$750

Aug 22

$720

Aug 31 Bal.

$1000

Prepaid Rent

Aug 3

$380

Aug 31

$380

Aug 31 Bal.

$0

Interest Receivable

Aug 1 Bal

$20

Aug 31

$20

Aug 31 Bal.

$40

Accumulated Depreciation-Equipment

Aug 1 Bal

$2030

Aug 31

$203

Aug 31 Bal.

$2233

Salaries Payable

Aug 10

$1460

Aug 1 Bal

$1460

Aug 31

$1670

Aug 31 Bal.

$3903

Income Tax Payable

Aug 31

$290

Aug 31 Bal.

$290

Unearned revenue

Aug 31

$790

Aug 1

$1380

Aug 29

$750

Aug 31 Bal.

$1340

Supplies Expense

Aug 31

$750

Aug 31 Bal.

$750

Depreciation Expense

Aug 31

$203

Aug 31 Bal.

$203

Income Tax Expense

Aug 31

$290

Aug 31 Bal.

$290

Advertising Expense

Aug 31

$220

Aug 31 Bal.

$220

Rent Expense

Aug 31

$380

Aug 31 Bal.

$380

Salaries Expense

Aug 31

$1670

Aug 31 Bal.

$1670

Service Revenue

Aug 31

$790

Aug 31 Bal.

$790

Interest Revenue

Aug 31

$20

Aug 31 Bal.

$20
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