Question

Required- prepase ni general Journal Form the adjusting entries that were recorded. Copyright 2005 by McGraw Adjustments Resonded. Als reserve ABC Company unddjusted and adjusted trial balances on Decens 31, 2005 are as follows: Exercloa 53 (25 minutos) Parts 1, 2 and 3 Musical Sensations Work Sheet For Year Ended December 31, 2005 Unadjusted Trial Adjusted Trial Balance Balance Account Debt Credit Debt Credit Debt Credit 14,000 14,000 Accounts recevable 26,000 28,000 Office supplies 980 Musical equipment 212,000 4 430 212,000 Acoum, amort. musical equip.. Accounts payablo........ 18,300 16,200 Unearned performance revenue Jim Daley, capital 213,400 46,6001 Jim Daley, withdrawals. 52,000 62,000 Performance revenu...... 119,000 to be 129,800 Salaries expense 78,000 Travelling expenso ....... 42,000 13900 42,000 Total........ . 222950 22960 Amortization expense, musical equip.com 1 16,200 Salarles payable..... ..... Office supplies expense.. 430 13,800 430 Total 4103031030432-30 2:32.000 Net loss Totals.. . 520 33. Fundamental Aco 89,800 13 900 16,200 Place there

Answer 1

General Journal for Adjusting Entries Debit ($) Credit ($) $ Particulars Date 31-Dec-05 Office Supplies Expense A/c. Dr. 430 Office Supplies A/c. (Being Office Supplies Expense for the year is recorded) $ 430 31-Dec-05 Musical Equipment A/c. Dr. $16,200 Accounts Payable A/c. (Being Musical Equipment is purchased on credit basis) $16,200 31-Dec-05Unearned Performance Revenue A/c. Dr. $10,600 Performance Revenue A/c (Being Unearned Performance Revenue is accounted for the year) $10,600 31-Dec-05 Salaries Expense A/c. Dr. $13,800 Salary Payable A/c. (Being Salary Expense payable as on the last day of the year is accounted) $13,800