Question

need to find the blanks an fill them in given this info please! thank you!

Trial Balance Debit Credit Adjusted Trial Balance Debit Credit 33,000 19,000 25,000 6,000 11,000 Account Titles Accounts Receivable Prepaid Insurance Supplies Accumulated Depreciation-Equipment Salaries and Wages Payable Service Revenue Insurance Expense Depreciation Expense Supplies Expense Salaries and Wages Expense 87,000 4,000 96,000 9,000 4,000 48,000

Answer 1

	Trial Balance		Adjusted Trial Balance
	Debit	Credit	Debit	Credit
Account receivable	24,000.00		33,000.00
Prepaid Insurance	25,000.00		19,000.00
Supplies	6,000.00		2,000.00
Accumulated depreciation - equipment		11,000.00		20,000.00
Salaries and wages Payable		-		4,000.00
Service Revenue		87,000.00		96,000.00
Insurance expenses			6,000.00
Depreciatoin expense			9,000.00
Supplies Expenses			4,000.00
Salaries and Wage Expenses	44,000.00		48,000.00

Account Receivable : Service revenue increases by 9000 through adjusting entry hence we can assume that corresponding impact will be to account receivable. We have been provided 33,000 in adjusted trial balance hence for unadjusted value can be derived reducing 9,000

Supplies : In adjusting entries, supplies expense account for 4,000 which will reduce supplies hence adjusted trial balance value will be 2,000 (6000-4000)

Accumulated Depreciation equipment : In adjusting entries depreciation expense accounted by 9,000 so that needs to be added 20,000 (11,000+9,000)

Insurance Expense : Prepaid insurance is reducing by 6,000 which indicate it would have been expense

Salaries & Wages Payable : Based on detail there are two possibilities, we can assume that there were 4,000 payable in trial balance and in adjusted trial balance it remained the same and on that basis the salaries and wages expense will also be same in both trail balance and adjusted trial balance. Another possibility is there was no salaries and wages payable, in such case salaries and wages expense in trial balance would be 44,000 (48,000-4,000) - i have provided treatment as per later possibility.