Question

The unadjusted trial balance for Bramble Corp. is shown below. BRAMBLE CORP. Trial Balance October 31, 2022 Credit Debit $15,540 2,570 690 4,690 Cash Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Rent Expense $4,690 2,760 1,410 10,200 0 580 10,100 4,000 1,090 $29,160 $29,160 Assume the following adjustment data. 1. 2. 3. 4. Supplies on hand at October 31 total $560. Expired insurance for the month is $115. Depreciation for the month is $55. As of October 31, services worth $870 related to the previously recorded unearned revenue had been performed. Services performed but unbilled (and no receivable has been recorded) at October 31 are $300. Interest expense accrued at October 31 is $80. Accrued salaries at October 31 are $1,610. 5. 6. 7.

Answer 1

Adjusting entries
S.no.	Accounts title and explanations		Debit $	Credit $
a.	Supplies expense (2570-560)		2010
	Supplies account				2010
	(for supplies used)
b.	Insurance expense			115
	Prepaid insurance				115
	(for insurance expired)
c.	Depreciation expense		55
	Accumulated dep-Equipment			55
	(for depreciation charged)
d.	Unearned Service revenue		870
	Service revenue				870
	(for services revenue earned)
e.	Accounts receivable			300
	Service revenue				300
	(for service performed)
f.	Interest expense			80
	Interest payable				80
	(for interest expense due)
g.	Salaries expense			1,610
	Salaries payable				1,610
	(for salaries due and unpaid)