Old Julian Calendars
The trial balances before and after adjustments for Old Julian Calendars at the end of its fiscal year are presented below.
Old Julian Calendars
Trial Balance
September 31, 2010 ——————————————————————————————————————————— Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash $ 15,080 $ 15,080 Accounts Receivable 14,960 16,110 Office Supplies 2,760 885 Prepaid Insurance 5,800 1,450 Office Equipment 13,300 13,300 Accumulated Depreciation – Off Equip $ 5,220 $ 6,960 Accounts Payable 9,860 9,860 Salaries Payable 2,750 Rent Payable 1,750 Unearned Sales Revenues 2,175 1,150 Unearned Rent Revenues 2,100 525 J. Hanson, Capital 18,395 18,395 Sales Revenues 48,800 50,975 Rent Revenues 1,575 3,150 Salaries Expense 20,400 23,150 Office Supplies Expense 1,875 Rent Expense 15,825 17,575 Insurance Expense 0 4,350 Depreciation Expense 0 0 1,740 0 $ 88,125 $ 88,125 $ 95,515 $ 95,515
Instructions
Prepare the adjusting entries that were made.
(1) Accounts Receivable 1,150 Sales Revenues 1,150 (To record sales not yet billed to customers) (2) Office Supplies Expense 1,875 Office Supplies 1,875 (To record office supplies expense) (3) Insurance Expense 4,350 Prepaid Insurance 4,350 (To recognize period insurance expense) (4) Depreciation Expense - Equipment 1,740 Accumulated Depreciation - Equipment 1,740 (To record depreciation for the period)
(5) Salaries Expense 2,750 Salaries Payable 2,750 (To record salaries payable) (6) Rent Expense…………………………………………………………. 1,750 Rent Payable……………………………………………………..
Old Julian Calendars
Trial Balance
September 31, 2010 ——————————————————————————————————————————— Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash $ 15,080 $ 15,080 Accounts Receivable 14,960 16,110 Office Supplies 2,760 885 Prepaid Insurance 5,800 1,450 Office Equipment 13,300 13,300 Accumulated Depreciation – Off Equip $ 5,220 $ 6,960 Accounts Payable 9,860 9,860 Salaries Payable 2,750 Rent Payable 1,750 Unearned Sales Revenues 2,175 1,150 Unearned Rent Revenues 2,100 525 J. Hanson, Capital 18,395 18,395 Sales Revenues 48,800 50,975 Rent Revenues 1,575 3,150 Salaries Expense 20,400 23,150 Office Supplies Expense 1,875 Rent Expense 15,825 17,575 Insurance Expense 0 4,350 Depreciation Expense 0 0 1,740 0 $ 88,125 $ 88,125 $ 95,515 $ 95,515
Instructions
Prepare the adjusting entries that were made.
(1) Accounts Receivable 1,150 Sales Revenues 1,150 (To record sales not yet billed to customers) (2) Office Supplies Expense 1,875 Office Supplies 1,875 (To record office supplies expense) (3) Insurance Expense 4,350 Prepaid Insurance 4,350 (To recognize period insurance expense) (4) Depreciation Expense - Equipment 1,740 Accumulated Depreciation - Equipment 1,740 (To record depreciation for the period)
(5) Salaries Expense 2,750 Salaries Payable 2,750 (To record salaries payable) (6) Rent Expense…………………………………………………………. 1,750 Rent Payable……………………………………………………..