Preparing adjusting entries and preparing an adjusted trial balance [10-15 min]
First Class Maids Company, the cleaning service, started the preparation of its adjusted trial balance as follows:
During the 12 months ended December 31, 2012, First Class Maids
a. used supplies of $1,800.
b. used up prepaid insurance of $620.
c. used up $460 of the equipment through depreciation.
d. accrued salary expense of $310 that First Class Maids hasn’t paid yet.
e. earned $360 of the unearned service revenue.
Requirement
1. Prepare an adjusted trial balance. Use Exhibit as a guide. Key each adjustment by letter.
Preparation of Adjusted Trial Balance
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