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Weygandt, Financial and Managerial, 30 Financial Managerial Accounting (ACC-152 & ACC-156) CALCULATOR MESSAGE MY INSTRUCTOR S


LULATOR Sunland started her own consulting firm, Sunland Company, on May 1, 2020. The trial balance at May 31 is as follows.
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Sunland Company
First we will calculate adjustment amount. Then we will make adjustment entries.
Event Workings for adjustment entries Amount $
1 Supplies Balance            1,900.00
Less: Unused Supplies               800.00
Supplies expense           1,100.00
2 Utilities expense Payable               300.00
3 Prepaid Insurance            2,400.00
Paid for (months)                 24.00
Insurance expense               100.00
4 Unearned Service revenue            1,900.00
Less: Unearned at the end of the month               400.00
Service revenue earned           1,500.00
5 Salary of 1 employee            1,000.00
Number of days                   5.00
Days Payable                   3.00
Salary payable of 1 employee               600.00
Salary and Wages Payable           1,200.00
6 Deprecation Expense- Equipment               210.00
7 Service revenue to be recorded           1,800.00
Adjusting Entries
Event Account Debit $ Credit $
1 Supplies Expense        1,100.00
Supplies        1,100.00
(being supplies used)
2 Utilities expense           300.00
Accounts payable           300.00
(being liability for Utilities expense created)
3 Insurance expense           100.00
Prepaid Insurance           100.00
(being Prepaid Insurance expired)
4 Unearned Service Revenue        1,500.00
Service Revenue        1,500.00
(being Unearned Service Revenue earned )
5 Salaries and Wages expense        1,200.00
Salaries and Wages payable        1,200.00
(being liability for Salaries expense created)
6 Depreciation expense           210.00
Accumulated Depreciation- Equipment           210.00
(being Depreciation charged to Equipment)
7 Accounts Receivables        1,800.00
Service Revenue        1,800.00
(being invoice for Service Revenue recorded)
Salaries and Wages payable Ref. Debit Date Explanation May 31 Adjusting Credit 1,200.00 Balance 1,200.00 Unearned Rent RevenuInsurance expense Ref. Debit 100.00 Date Explanation May 31 Adjusting Credit Balance 100.00 Supplies Expense Ref. Debit 1,100
Ledger
Cash
Date Explanation Ref. Debit Credit Balance
May 31 Balance       4,500.00
Accounts Receivables
Date Explanation Ref. Debit Credit Balance
May 31 Balance       6,100.00
May 31 Adjusting     1,800.00       7,900.00
Supplies
Date Explanation Ref. Debit Credit Balance
May 31 Balance       1,900.00
May 31 Adjusting 1,100.00          800.00
Prepaid Insurance
Date Explanation Ref. Debit Credit Balance
May 31 Balance       2,400.00
May 31 Adjusting      100.00       2,300.00
Equipment
Date Explanation Ref. Debit Credit Balance
May 31 Balance     12,600.00
Accumulated Depreciation- Equipment
Date Explanation Ref. Debit Credit Balance
May 31 Adjusting      210.00          210.00
Accounts Payable
Date Explanation Ref. Debit Credit Balance
May 31 Balance       4,200.00
May 31 Adjusting      300.00       4,500.00
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