Reconstructing a partial worksheet.
The adjusted trial balance of Dennis Ortiz, Attorney-at-Law, as of November 30, 2010, after the company had completed the first month of operations, appears below.
Appropriate adjustments have been made for the following items.
a. Supplies used during the month, $3,600.
b. Expired rent for the month, $3,400.
c. Depreciation expense for the month, $550.
Dennis Ortiz, Attorney-at-Law Adjusted Trial Balance Month Ended November 30, 2010 | ||
Account Name | Debit | Credit |
Cash | 35,050 |
|
Accounts Receivable | 8,500 |
|
Supplies | 6,800 |
|
Prepaid Rent | 40,800 |
|
Equipment | 66,000 |
|
Accumulated Depreciation—Equipment |
| 500 |
Accounts Payable |
| 17,000 |
Dennis Ortiz, Capital |
| 80,000 |
Dennis Ortiz, Drawing | 6,000 |
|
Fees Income |
| 85,700 |
Depreciation Expense—Equipment | 550 |
|
Rent Expense | 3,400 |
|
Salaries Expense | 10,800 |
|
Supplies Expense | 3,600 |
|
Utilities Expense | 1,750 |
|
Totals | 183,250 | 183,250 |
INSTRUCTIONS
1. Record the adjusted trial balance in the Adjusted Trial Balance columns of the worksheet.
2. Prepare the adjusting entries in the Adjustments columns.
3. Complete the Trial Balance columns of the worksheet prior to making the adjusting entries.
Analyze: Which contra asset account is on the adjusted trial balance?
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.