Question

Adjusting Entries from Trial Balances The unadjusted and adjusted trial balances for American Leaf Company on October 31, 2019, follow: American Leaf Company Trial Balance October 31, 2019 Unadjusted Adjusted Debit Balances Credit Balances Debit Balances Credit Balances Cash 284 284 676 750 Accounts Receivable Supplies Prepaid Insurance 213 160 344 206 457 Land Equipment 457 704 704 141 230 463 463 Accumulated Depreciation- Equipment Accounts Payable Wages Payable Les Huff, Capital Les Huff, Drawing Fees Earned 0 20 1,633 1,633 147 147 1,298 1,372 426 446 Wages Expense Rent Expense Insurance Expense 142 142 0 138 71 71 Utilities Expense Depreciation Expense Supplies Expense Miscellaneous Expense 0 89 0 53 71 71 Check My Work All work saved.

Answer 1

Credit General Journal Accounts Receivable (750 - 676) Fees Earned (1,372 - 1,298) Debit $74 1) $74 2) $53 Supplies Expense (53-0) Supplies (213 - 160) $53 3) $138 Insurance Expense (138 - 0) Prepaid Insurance (344 - 206) $138 4) $89 Depreciation Expense (89 - 0) Accumulated Depreciation - Equipment (230 - 141) $89 5) $20 Wages Expense (446 - 426) Wages Payable (20-0) $20