Question

PR 3-4A Adjusting entries OBJ. 2, 3, 4 Good Note Company specializes in the repair of music equipment and is owned and oper- ated by Robin Stahl. On November 30, 2014, the end of the current year, the accountant for Good Note Company prepared the following trial balances: Good Note Company Trial Balances November 30, 2014 Unadjusted Debit Credit Balances Balances Adjusted Debit Credit Balances Balances 38,250 89,500 11,250 14,250 290,450 94,500 129,500 54,750 24,930 Cash Accounts Receivable. Supplies. Prepaid Insurance Equipment. .. Accumulated Depreciation-Equipment Automobiles.. Accumulated Depreciation-Automobiles Accounts Payable Salaries Payable. Unearned Service Fees. Robin Stahl, Capital... Robin Stahl, Drawing Service Fees Earned Salary Expense.. Rent Expense Supplies Expense.. Depreciation Expense-Equipment. Depreciation Expense-Automobiles. Utilities Expense Taxes Expense.. Insurance Expense Miscellaneous Expense 18,000 324,020 38,250 89,500 2,400 3,850 290,450 106,100 129,500 62,050 26,130 8,100 9,000 324,020 75,000 742,800 525,000 54,000 8,850 11,600 7,300 14,100 8,175 10,400 9,825 1,278,200 1,278,200 75,000 733,800 516,900 54,000 12,900 8,175 9,825 1,250,000 1,250,000

Answer 1

Preparing the Adjusting Entries:-

Good Note Company

General Journal (Adjusting Entries)

November 30,2014

Date	Accounts Title and Explanation	Debit	Credit
November 30 (1)	Supplies Expense	$8,850
	Supplies		$8,850
	(To adjust Supplies Expense)
November 30 (2)	Insurance Expense	$10,400
	Prepaid Insurance		$10,400
	(To adjust Insurance Expense)
November 30 (3)	Depreciation Expense- Equipment	$11,600
	Accumulated Depreciation- Equipment		$11,600
	(To adjust Depreciation Expense on Equipment)
November 30 (4)	Depreciation Expense- Automobiles	$7,300
	Accumulated Depreciation- Automobiles		$7,300
	(To adjust Depreciation on Automobiles)
November 30 (5)	Utilities Expense ($14,100-$12,900)	$1,200
	Accounts Payable		$1,200
	(To Adjust Utilities Expense)
November 30 (6)	Unearned Service Fees ($18,000-$9,000)	$9,000
	Service Fees Earned		$9,000
	(To adjust unearned Revenue)
November 30 (7)	Salaries Expense	$8,100
	Salaries Payable		$8,100
	(To adjust Salaries Expense)