Question

Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3 The following information applies to the questions displayed below] A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date. Adjusted Trial Balance $ 90,400 19,000 Unadjusted Trial Balance $ 90,400 12,000 17,800 6,640 90,000 Cash Accounts receivable office supplies Prepaid insurance office equipment Accum. Depreciation-office equip. Accounts payable Interest payable Salaries payable Unearned consulting fees Long-term notes payable Common stock 10,000 3,760 90,000 $ 28,000 22,000 2,000 13,000 19,000 58,000 30,000 20,000 $ 24,000 10,100 0 20,000 58,000 30,000 20,000 Retained earnings 9,500 9,500 Dividends Consulting fees earned Depreciation expense-office equip. Salaries expense Interest expense Insurance expense Rent expense Office supplies expense Advertising expense 160,000 0 168,000 4,000 80,340 3,290 2,880 14,680 7,800 24,350 67,340 1,290 0 14,680 0 12,450 $360,000 $360,000 $ 322,100 $ 322,100 Totals.

Answer 1

Dr Cr Adjustment 7,000 Dr Icr unadjusted trail Balance $ 90,400 12,000 17.800 6.640 90,000 24.000 10.100 7,800 2,880 Account Cash Accounts Receivables Office supplies Prepaid Insurance Office equipment Accumulated depreciation-office equipment Accounts payable Interest payable Salaries Payable unearned consulting fee Long term note Payable Common stock retained earnings Dividend consulting fee earned consulting fee earned(unearned fee adjustment) Depreciation Expense-office equipment salaries Expense 4,000 11.900 2.000 13.000 Dr Cr Adjusted trail Balance $ 90,400 19,000 10.000 3,760 90.000 28,000 #4 22,000 #5 2.000 #6 13,000 #7 19.000 58.000 30.000 20,000 9,500 168,000 #8 20.000 58,000 30.000 20,000 9.500 160,000 8.000 1.000 4.000 13.000 4.000 80,340 #9 #10 67,340

1.290 2,000 2,880 14,680 3.290 2.880 14,680 7.800 24,350 360,000 12.450 $ 322,100 $ 7.800 11,900 49,580 322,100 $ $ 49,580 $ $ 360,000 # Interest Expense Insurance Expense Rent Expense Office supplies expense Advetrtising Expense | Totals Unrecorded on account service revenue enterd Office supplies consumed Insurance expired for the year Depreciation charged for the year Advertising expense not paid Interest outstanding recognised salary unpaid recorded Service revenue added- Depreciation expense outstanding salaries added oustanding interest added expired insurance enterd consumed supplies expensed advertising expense recognised # # #9 #10 #11 #12 #13 #14