Question

Chapter 3 - Instruction #1 The unadjusted trial balance for PS Music as of July 31, 2019 is as follows: PS Music Unadjusted Trial Balance July 31, 2019 Account No. Debit Balances Credit Balances Cash 119 12 ,945 2,750 Accounts Receivable Supplies Prepaid Insurance 1,020 15 2,700 Office Equipment 17 7,500 Accounts Payable Unearned Revenue 23 8,350 7,200 9,000 Peyton Smith, Capital Peyton Smith, Drawing 1,750 Fees Earned 41 16,200 Wages Expense 2,800 51 2,550 Office Rent Expense Equipment Rent Expense 1,375 Utilities Expense 1,215 Music Expense 3,610 Advertising Expense 1,500

Answer 1

PS MUSIC
Adjusted trail balance
JULY 31 2019
Particulars	Debit	Credit
Cash	$      9,945
Accounts receivable (2750+1400)	$      4,150
Supplies (1020-745)	$         275
Prepaid insurance (2700-225)	$      2,475
Office equipment	$      7,500
Accumulated depreciation - office equipment		$           50
Accounts Payable		$      8,350
Wages Payable		$         140
Unearned income		$      3,600
Peyton smith, capital		$      9,000
Peyton smith, drawing	$      1,750
Fess earned (16200+3600+1400)		$     21,200
Wages expenses	$      2,940
Office rent expenses	$      2,550
Equipment rent expenses	$      1,375
Utilities expenses	$      1,215
Music expenses	$      3,610
Advertising expenses	$      1,500
Supplies expense (745+180)	$         925
Insurance expense	$         225
Depreciation expense	$           50
Miscellaneous expense	$      1,855
	$     42,340	$     42,340