Preparing Adjusting Entries from a Trial Balance
The unadjusted and adjusted trial balances for Tinker Corporation on December 31, 2011, are shown below:
TINKER CORPORATION TRIAL BALANCES DECEMBER 31, 2011
| Unadjusted | Adjusted | ||
| Debit | Credit | Debit | Credit |
Cash | $ 35,200 |
| $ 35,200 |
|
Accounts receivable | 29,120 |
| 34,120 |
|
Unexpired insurance | 1,200 |
| 600 |
|
Prepaid rent | 5,400 |
| 3,600 |
|
Office supplies | 680 |
| 380 |
|
Equipment | 60,000 |
|
| 60,000 |
Accumulated depreciation: equipment |
| $ 49,000 |
| $ 50,000 |
Accounts payable |
| 900 |
| 900 |
Notes payable |
| 5,000 |
| 5,000 |
Interest payable |
| 200 |
| 250 |
Salaries payable |
| — |
| 2,100 |
Income taxes payable |
| 1,570 |
| 2,170 |
Unearned revenue |
| 6,800 |
| 3,800 |
Capital stock |
| 25,000 |
| 25,000 |
Retained earnings |
| 30,000 |
| 30,000 |
Fees earned |
| 91,530 |
| 99,530 |
Advertising expense | 1,500 |
| 1,500 |
|
Insurance expense | 6,600 |
| 7,200 |
|
Rent expense | 19,800 |
| 21,600 |
|
Office supplies expense | 1,200 |
| 1,500 |
|
Repairs expense | 4,800 |
| 4,800 |
|
Depreciation expense: equipment | 11,000 |
| 12,000 |
|
Salaries expense | 26,300 |
| 28,400 |
|
Interest expense | 200 |
| 250 |
|
Income taxes expense |
| 7,000 | 7,600 |
|
| $210,000 | $210,000 | $218,750 | $218,750 |
Journalize the nine adjusting entries that the company made on December 31,2011.
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