Question

Problem 3-03A a, b1-b3, (Video) (Part Level Submission) Everett Co. was organized on July 1, 2020. Quarterly financial statements are prepared. The unadjusted and adjusted trial balances as of September 30 are shown as follows. Everett Co. Trial Balance September 30, 2020 Unadjusted Dr. Cr. Cash $ 8,700 Accounts Receivable 10,400 Supplies 1,500 Prepaid Rent 2,200 Equipment 18,000 Accumulated Depreciation --Equipment 50 Notes Payable 10,000 Accounts Payable 2,500 Salaries and Wages Payable Interest Payable Unearned Rent Revenue 1,900 Common Stock 22,000 Dividends 1,600 Service Revenue 16,000 Rent Revenue 1,410 Salaries and Wages Expense 8,000 Rent Expense 1,900 Depreciation Expense Supplies Expense Utilities Expense 1,510 Interest Expense $ 53,810 $ 53,810 Adjusted Dr. Cr. $ 8,700 11,500 650 1,200 18,000 $ 700 10,000 2,500 725 100 1,050 22,000 1,600 17,100 2,260 8,725 2,900 700 850 1,510 100 $ 56,435 $56,435

Answer 1

Credit Date Sept. 30 $ Debit 1,100 $ 1,100 Sept. 30 1,000 $ 1,000 Sept. 30 850 $ 850 Sept. 30 Account Titles and Explanation Accounts Receivable Service Revenue (To record accrued revenue) Rent Expense Prepaid Rent (To record prepaid rent) Supplies Expense Supplies (To record supplies used) Depreciation Expense Accumulated Depreciation-Equipment (To record depreciation) Interest Expense Interest Payable (To record interest) Unearned Rent Revenue Rent Revenue (To record unearned rent revenue) Salaries and Wages Expense Salaries and Wages Payable (To record accrued salaries) $ 700 Sept. 30 100 $ 100 Sept. 30 850 Sept. 30 725 725