Question

Required Information (The following information applies to the questions displayed below.] Jaguar Auto Company provides general car maintenance to customers. The company's fiscal year-end is December 31. The December 31, 2018. trial balance (before any adjusting entries) appears below. Credits Debits $ 16,500 13.900 21.500 17,400 84.000 $ 26,500 10.900 Accounts Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Salaries Payable Utilities Payable Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Depreciation Expense Insurance Expense Supplies Expense Utilities Expense Interest Expense 29.500 24.000 8.900 1.900 218.800 152,500 10.900 Totals $318.600 $318.600

Answer 1

Beg.Bal Cash $ 16,500 End.Bal $ 16,500 $ 16,500 $ 16,500 Beg.Bal Accounts Receivable $ 13,900 End.Bal $ 13,900 $ 13,900 $13,900 Beg.Bal Supplies $ 21,500 Supplies Expenses End.Bal $ 21,500 $17,600 $ 3,900 $21,500 Beg.Bal Prepaid Insurance $ 17,400 Insurance Expenses End.Bal $ 17,400 $14,500 17400*10/12 $ 2,900 $17,400 Beg.Bal Equipment $ 84,000 End.Bal $ 84,000 $ 84,000 $ 84,000 End.Bal Accumulated Depreciation $ 35,400 Beg.Bal Depreciation Expenses $ 35,400 $26,500 $ 8,900 $35,400 Interest Expenses Interest Payable $ 1,180 Income Statement $ 1.180 $ 1,180 $ 1.180

End.Bal Accounts payable $ 10,900 Beg.Bal $ 10,900 $10.900 $ 10,900 End.Bal Salaries Payable $ 2,900 Beg.Bal Salaries Expenses $ 2,900 $ 2,900 $ 2,900 End.Bal Utilities Payable $ 1,650 Beg.Bal Utilities Expenses $ 1,650 $ 1,650 $ 1,650 End.Bal Interest Payable $ 1,180 Beg.Bal Interest Expenses $ 1.180 $ 1,180 29500*12%*4/12 $ 1,180 End.Bal Notes Payable $29,500 Beg.Bal $29,500 $29,500 $29,500 End.Bal Common Stock $ 24,000 Beg.Bal $ 24,000 $24,000 $ 24,000 Beg.Bal Utilities Payable Utilities Expenses $10,900 Income statement $12,550 $ 1,650 $12,550 $ 12,550 statement | $12,550) $ 1,650

End.Bal Retained Earnings $ 8.900 Beg.Bal $ 8,900 $ $ 8,900 8,900 Beg.Bal Dividend $ 1,900 End.Bal $ 1,900 $ $ 1,900 1,900 Income Statement Service Revenue $2,18,800 Beg.Bal $2,18,800 $2,18,800 $2,18,800 Beg.Bal Salaries Payable Salaries Expenses $1,52,500 Income Statement $1,55,400 $ 2.900 $1,55,400 $1,55,400 Accumulated Depreciation Depreciation Expenses $ 8.900 Income Statement $ $ 8,900 $ 8,900 8,900 Prepaid Insurance Insurace Expenses $ 14,500 Income Statement $ 14,500 $ 14,500 $ 14,500 Supplies Supplies Expenses $ 17,600 Income Statement $ 17,600 $ 17,600 $ 17,600

Credit $2,18,800 Closing entries Date Accounts Title Debit Dec-31 Service Revenue $2,18,800 Income Summary Dec-31 Income Summary $2,10,130 Salaries Expenses Depreciation Expenses Insurance Expenses Supplies Expenses Utilities Expenses Interest Expenses Dec-31 Income Summary $ 8,670 Retained Earnings Dec-31 Retained Earnings $ 1.900 Dividend $1,55,400 $ 8,900 $ 14,500 $ 17,600 $ 12,550 $ 1,180 Trail Balance Accounts Title Debit Credit Cash $ 16,500 Accounts receivable $ 13,900 Supplies $ 3,900 Prepaid Insurance $ 2,900 Equipment $ 84,000 Accumulated Depreciation $ 35,400 Accounts Payable $ 10,900 Salaries payable $ 2,900 Utilities Payable $ 1,650 Interest payable $ 1,180 Notes Payable | $ 29,500 Common Stock $ 24,000 Retained earnings $ 8,900 Dividend $ 1,900 Service Revenue $2,18,800 Salaries Expenses $1,55,400 Depreciation Expenses $ 8,900 Insurance Expenses $ 14,500 Supplies Expenses $ 17,600 Utilities Expenses $ 12,550 Interest Expenses $ 1,180 $3,33,230 $3,33,230 218800-210130 $ 8,670 $ 1,900