Question

Exercise 4-11

The unadjusted trial balance for Grouper Corp. is shown below.

GROUPER CORP. Trial Balance October 31, 2017
		Debit		Credit
Cash		$15,820
Supplies		2,860
Prepaid Insurance		720
Equipment		4,590
Notes Payable				$4,590
Accounts Payable				2,230
Unearned Service Revenue				1,490
Common Stock				11,100
Retained Earnings				0
Dividends		580
Service Revenue				13,990
Salaries and Wages Expense		4,000
Rent Expense		4,830
		$33,400		$33,400

Assume the following adjustment data.

1.		Supplies on hand at October 31 total $520.
2.		Expired insurance for the month is $120.
3.		Depreciation for the month is $135.
4.		As of October 31, services worth $950 related to the previously recorded unearned revenue had been performed.
5.		Services performed but unbilled (and no receivable has been recorded) at October 31 are $250.
6.		Interest expense accrued at October 31 is $75.
7.		Accrued salaries at October 31 are $1,520.

Prepare the adjusting entries for the items above. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

No.	Date	Account Titles and Explanation	Debit	Credit
1.	Oct. 31	enter an account title to record the first transaction	Enter a debit amount	Enter a credit amount
		enter an account title to record the first transaction	Enter a debit amount	Enter a credit amount
2.	Oct. 31	enter an account title to record the second transaction	Enter a debit amount	Enter a credit amount
		enter an account title to record the second transaction	Enter a debit amount	Enter a credit amount
3.	Oct. 31	enter an account title to record the third transaction	Enter a debit amount	Enter a credit amount
		enter an account title to record the third transaction	Enter a debit amount	Enter a credit amount
4.	Oct. 31	enter an account title to record the fourth transaction	Enter a debit amount	Enter a credit amount
		enter an account title to record the fourth transaction	Enter a debit amount	Enter a credit amount
5.	Oct. 31	enter an account title to record the fifth transaction	Enter a debit amount	Enter a credit amount
		enter an account title to record the fifth transaction	Enter a debit amount	Enter a credit amount
6.	Oct. 31	enter an account title to record the sixth transaction	Enter a debit amount	Enter a credit amount
		enter an account title to record the sixth transaction	Enter a debit amount	Enter a credit amount
7.	Oct. 31	enter an account title to record the seventh transaction	Enter a debit amount	Enter a credit amount
		enter an account title to record the seventh transaction	Enter a debit amount	Enter a credit amount

Answer 1

No. Credit Date 1 Oct. 31 Debit $2.340 Account Titles and Explanation Supplies Expense Supplies ($2,860 - $520) $2,340 2 Oct. 31 $120 Insurance Expense Prepaid Insurance $120 3 Oct. 31 Depreciation Expense Accumulated Depreciation $135 4 Oct. 31 Unearned Service Revenue Service Revenue $950 5 Oct. 31 Accounts Receivable Service Revenue $250 6 Oct. 31 Interest Expense Interest Payable $75 7 Oct 31 $1,520 Salaries and Wages Expense Salaries and Wages Payable $1,520