Question

Instructions Answers are entered in the cells with gray backgrounds. Cells with non-gray backgrounds are protected and cannot be edited. 1 An asterisk (*) will appear to the right of an incorrect entry, 2 For correct grading in the trial balance, enter a zero in cells you would otherwise leave blank. 3 1. Account b c. 22 23 d. 25 26 27 28 29 30 ILLUD f 33 9

Answer 1

1)

No	Account Title & Explaination	Debit	Credit
a	Insurance Expenses (7200-6000)	1200
	Prepaid Insurance		1200
b	Supplies Expenses (1980-480)	1500
	Supplies		1500
c	Depreciation Expenses - Building	7500
	Accumulated Depreciation-Building		7500
d	Depreciation Expenses - Equipment	4150
	Accumulated Depreciation-Equipment		4150
e	Unearned Rent (6750-1550)	5200
	Rent Revenue		5200
f	Salaries and Wages Expense	3200
	Salaries and Wages Payable		3200
g	Account Recievable	11330
	Fees Earned		11330

	ACCOUNT TITLE	DEBIT	CREDIT
1	Cash	7500
2	Accounts Receivable	49730
3	Prepaid Insurance	6000
4	Supplies	480
5	Land	112500
6	Building	150250
7	Accumulated Depreciation-Building		95050
8	Equipment	135300
9	Accumulated Depreciation-Equipment		102100
10	Accounts Payable		12150
11	Unearned Rent		1550
12	Salaries and Wages Payable		3200
13	Briggs, Capital		221000
14	Briggs, Drawing	15000
15	Fees Earned		335930
16	Rent Revenue		5200
17	Salaries and Wages Expense	196570
18	Utilities Expense	42375
19	Advertising Expense	22800
20	Repairs Expense	17250
21	Depreciation Expense-Building	7500
22	Depreciation Expense-Equipment	4150
23	Insurance Expense	1200
24	Supplies Expense	1500
25	Miscellaneous Expense	6075
26	Totals	776,180	776,180