| Adjusted Trial Balance
I need help!!! First time doing adjustments...
I have been working on this exercises for a while and I can't get it to balance.
DEBIT
Cash $26667
Prepaid Insurance $450
Batteries on Hand $250
Watches $20,000
Dividends $1,200
Utilities Expense $3,200
Salaries Expense $2,400
CREDIT
Accumulated Depreciation - Watches $3,667
Account Payable $7,000
Unearned Revenue $5,700
Note Payable $3,000
Capital stock $1,000
Retained Earning $5,800
Revenue $28,000
Additional Info:
Insurance policy was dated December 1, the monthly cost is $50
Batteries on Hand at December 31 was $180
Watches purchased on January 1. estimated life is 5 years.
The balance in unearned revenues is $2000
Interest owed but not paid on the note was $30
Salaries owed but not paid at December 31 were $2,000
This is my anwer.
Debit Credit
Cash 26667
Prepaid Insurance 400
Batteries on Hand 180
Watches 20000
Accumulated Depreciation 4000
Account Payable 7000
Unearned Revenue 2000
Revenue 31700
Note Payable 3000
Capital Stock 1000
Retained Earning 5800
Dividends 1200
Utilities Expense 3200
Salaries Expense 2400
Insurance Expense 50
Salaries Payable 2000
Interest expenses 30
Depreciation Expense 333
Batteries Expense 70
Interest Payable 30
54530 56530
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