Question

Exercise 4-11 Your answer is partially correct. Try again. The unadjusted trial balance for Pina Colada Corp. is shown below. PINA COLADA CORP. Trial Balance October 31, 2022 Credit Debit $15,200 3,410 750 5,210 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 $5,210 2,420 2,120 11,150 0 530 9,300 4,000 1,100 $30,200 $30,200 Assume the following adjustment data. Supplies on hand at October 31 total $540. 2. Expired insurance for the month is $125. 3. Depreciation for the month is $150. 4. As of October 31, services worth $920 related to the previously recorded unearned revenue had been per 5. Services performed but unbilled (and no receivable has been recorded) at October 31 are $330. 6. Interest expense accrued at October 31 is $80, 7. Accrued salaries at October 31 are $1,500. Prepare the adjusting entries for the items above. (If no entry is required, select "No Entry" for the acco manually.) No. Date Account Titles and Explanation Debit Credit 1 Oct 31 Supplies Expense 287000 Supplies 287000

Answer 1

Adjusting Entries
Events	Particulars			Debit	Credit
1)	Supplies Expense			$ 2,870.00
	To Supplies				$ 2,870.00
	($ 3410 - $ 540)
2)	Insurance Expense			$    125.00
	To Prepaid Insurance				$    125.00
3)	Depreciation Expense			$    150.00
	To Accumulated Depreciation				$    150.00
4)	Unearned Service Revenue			$    920.00
	To Service Revenue				$    920.00
5)	Accounts Receivable			$    330.00
	To Service Revenue				$    330.00
6)	Interest Expense			$      80.00
	To Interest Payable				$      80.00
7)	Salaries and Wages Expense			$ 1,500.00
	To Salaries and Wages Payable				$ 1,500.00