Question

The unadjusted and adjusted trial balances for Tinker Corporation on December 31, 2015, are shown below:

TINKER CORPORATION TRIAL BALANCES December 31, 2015
		Unadjusted						Adjusted
	Debit			Credit			Debit			Credit
Cash	$	35,200					$	35,200
Accounts receivable		29,120						34,120
Unexpired insurance		1,200						600
Prepaid rent		5,400						3,600
Office supplies		680						380
Equipment		60,000						60,000
Accumulated depreciation: equipment				$	49,000						$	50,000
Accounts payable					900							900
Notes payable					5,000							5,000
Interest payable					200							250
Salaries payable					—							2,100
Income taxes payable					1,570							2,170
Unearned revenue					6,800							3,800
Capital stock					25,000							25,000
Retained earnings					30,000							30,000
Fees earned					91,530							99,530
Advertising expense		1,500						1,500
Insurance expense		6,600						7,200
Rent expense		19,800						21,600
Office supplies expense		1,200						1,500
Repairs expense		4,800						4,800
Depreciation expense: equipment		11,000						12,000
Salaries expense		26,300						28,400
Interest expense		200						250
Income taxes expense		7,000						7,600
	$	210,000		$	210,000		$	218,750			$	218,750

Journalize the nine adjusting entries that the company made on December 31, 2015. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Answer 1

Adjusting entries

No	General Journal	Debit	Credit
1	Account receivable	5000
	Fees earned		5000
2	Insurance expense	600
	Unexpired insurance		600
3	Rent expense	1800
	Prepaid rent		1800
4	Supplies expense	300
	Office supplies		300
5	Depreciation expense	1000
	Accumulated depreciation-equipment		1000
6	Interest expense	50
	Interest payable		50
7	Salaries expense	2100
	Salaries payable		2100
8	Income tax expense	600
	Income tax payable		600
9	Unearned revenue	3000
	Fees earned		3000