Question

Adjustments: 1. After doing the year-end count of office supplies, Myers found that $430 of office supplies remained. 2. After doing the year-end count of inventory, Myers determined that there was $53,200 in ending inventory. 3. $800 of the prepaid insurance is unexpired at year end. 4. Depreciation of the office equipment for the year was $10,000. 5. Depreciation of the store equipment for the year was $15,500. 6. The $24,000 in unearned revenue was for orders that were paid for in advance. At year end, 1/2 of the prepaid orders were fulfilled. 7. Wages that have accrued for the year but have not been paid yet totaled $5,000. This should be split evenly between Sales Salaries and Office Salaries.
adjust the worksheet

Answer 1

Account Adjustments Debit Credit $ $ $ $ $ $ $ $ 670 2.800 $ $ $ 1.200 $ $ $ $ $ $ $ 15,500 $ $ 10,000 $ Trail Balance Debit Credit 32,800 45,000 1,100 3,600 52,000 120.000 $ 80,000 88,000 $ 32,500 $ 28,300 $ $ 24,000 $ 50,000 $ 20,000 $ 32,200 10,000 $ 885,000 36,000 460,000 36,000 5,000 $ Cash Accounts receivables Office Supplies Prepaid Store insurance Inventory Store equipment Accumulated depreciation - store Equipment Office Equipment Accumulated Depreciation - Office Equipment Accounts Payable Salaries Payable Unearned Revenue Note payable (Due in 3 Years) Common Stock Retained Earnings Dividends Sales Sales Return and Allowences Cost of goods Sold Advertising Expense Depreciation Expense - Office Equipment Depreciation Expense - Store Equipment Sales Salaries Expense Office Salaries Expense Sells Department Rent Expense Administratition Rent Expense Store insurance Expense Office Supplies Expense Totals 12,000 Adjusted Trail Balance Debit Credit 32,800 45,000 430 800 53,200 120,000 $ 95,500 88,000 $ 42,500 $ 28,300 $ 5,000 $ 12,000 $ 50,000 $ 20,000 $ 32,200 10,000 $ 897,000 36.000 458,800 36,000 10,000 15,500 91,000 122,500 32,000 27,000 2,800 670 1,182,500 $ 1,182,500 $ $ $ 12,000 $ $ $ $ 1,200 $ $ $ $ $ $ $ $ $ 10,000 15,500 2,500 2,500 $ $ $ $ $ 88,500 $ 120,000 $ 32.000 $ 27,000 $ $ $ 1,152,000 $ $ $ 1,152,000 $ 2,800 670 47,170 $ $ $ $ $ 47,170 $