Question

Credit WHISPERING WINDS CORP. Trial Balance October 31, 2022 Debit Cash $15,300 Supplies 2,580 Prepaid Insurance 720 Equipment 5,170 Notes Payable Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends 620 Service Revenue Salaries and Wages Expense 4,000 Rent Expense 1,380 $29,770 $5,170 2,350 1,980 11,770 By - 8,500 $29,770

Answer 1

Adjusting entries: Credit No. 1 Debit $2,040 Date Account Titles and Explanation Oct. 31 Supplies expense ($2,580 - $540) Supplies (To record supplies expense) $2,040 2 $120 Oct. 31 Insurance expense Prepaid insurance (To record insurance expense) $120 3 $135 Oct. 31 Depreciation expense Accumulated depreciation (To record depreciation expense) $135 4 $860 Oct. 31 Unearned service revenue Service revenue (To record service revenue) $860 5 $220 Oct. 31 Accounts receivable Service revenue (To record service revenue) $220 6 $85 Oct. 31 Interest expense Interest payable (To record accrued interest expense) $85 $1,535 Oct. 31 Salaries and wages expense Salaries and wages payable (To record accrued salaries expense) $1,535