Question

Homework: CH 3 Using a worksheet Score: 0 of 5 pts E3-29 (similar to) 3 of 3 (1 complete) HW Score: 11.11%, 1 of 9 pts Question Help The worksheet of Next Job Employment Service follows but is incomplete. Click the loon the view the worksheet) The folowing data at April 30, 2018 we given for Nextjob Employment Service Click the loon to view the additional information) Read the requirements Requirements 1 and 2. Calculate and enter the w e nt amouria directly in the Adjustments columns. Use letters through to label the four adjustments Calculate and enter the dusted count balances in the Adjusted Trial Balance columns The account names and adjusted trial balance amounts as provided in the question have been entered into the worksheet for you. Fwish the partial worksheet by completing the auments and adjusted balance columns Complete the Adjustments columns by using the letters a tough to be the four adjustments

Answer 1

Account Names Cash Accounts Receivable Office Supplies Equipment Accumulated Depreciation-Equipment Salaries Payable Common Stock Dividends Service Revenue Salaries Expense Rent Expense Depreciation Expense-Equipment Supplies Expense Totals NEXT JOB EMPLOYMENT SERVICE Worksheet April 30, 2018 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Debit Credit Debit Credit Debit Credit $ 1,000 $ 1,000 $ 4,900 a. $ 1,100 $ 6,000 $ 700 b. $ 100 $ 600 $ 32,200 $ 32,200 $ 13,800 C. $ 1,400 $ 15,200 d. $ 500 $ 500 $ 24,500 $ 24,500 $ 5,100 $ 5,100 $ 9,900 a. $ 1,100 $ 11,000 $ 2,500 d. $ 500 $ 3,000 $ 1,800 $ 1,800 C. $ 1,400 $ 1,400 b. $ 100 $ 100 $ 48,200 $ 48,200 $ 3,100 $ 3,100 $ 51,200 $ 51,200

a. Service revenue accrued is the amount receivable from customers for services provided. Journal entry:

Credit Accounts Debit Accounts Receivable $ 1,100 Service Revenue (to recognize revenue accrued) $ 1,100

b. Office supplies are stock of consumables such as printer cartridges, cleaning supplies, etc. They are initially recorded as office supplies asset. Once consumed, they are written off as supplies expense:

Credit Accounts Debit Supplies expense $ 100 Office Supplies $ (to record consumption of supplies) 100

c. Depreciation on equipment is credited to accumulated depreciation.

Credit Accounts Debit Depreciation Expense-Equipment $ 1,400 Accumulated Depreciation-Equipment (to record depreciation for the period) $ 1,400

d. Salaries owed to employees are a liability. Salaries expense is incurred but not paid.

Credit Accounts Debit Salaries Expense $ 500 Salaries Payable (to record accrued salaries) $ 500