YORKIS PEREZ, CONSULTING ENGINEER
TRIAL BALANCE
DECEMBER 31, 2014






Debit



Credit



Cash

$33,030






Accounts Receivable

51,700






Allowance for Doubtful Accounts




$640



Inventory

1,780






Prepaid Insurance

1,050






Equipment

27,300






Accumulated Depreciation-Equipment




7,480



Notes Payable




7,200



Owner’s Capital




35,730



Service Revenue




107,620



Rent Expense (13 months of rent)

9,870






Salaries and Wages Expense

32,110






Utilities Expenses

1,040






Office Expense

790






Totals


$158,670




$158,670







1.

Fees received in advance from clients $6,300.


2.

Services performed for clients that were not recorded by December 31, $5,920.


3.

Bad debt expense for the year is $1,930.


4.

Insurance expired during the year $500.


5.

Equipment is being depreciated at 10% per year.


6.

Yorkis Perez gave the bank a 90-day, 10% note for $7,200 on December 1, 2014.


7.

Rent of the building is $640 per month. The rent for 2014 has been paid, as has that for January 2015.


8.

Office salaries and wages earned but unpaid December 31, 2014, $2,820.



Yorkis Perez withdrew $20,780 cash for personal use during the year.

​prepare annual adjusting entries as of December 31, 2014.

What do YOU think ?
While we're happy to HELP we wont do all the work for you.
Show us what you have done and where you are having problems, rather than simply copy&paste the work sheet.

A simple accounting exercise you should have no difficulty completing it

I missed two accounts and I just want to know what the debit for the #2 account would be and credit for the #3. I asked my teacher and he won't tell me.

2.


Services performed for clients that were not recorded by December 31, $5,920.



3.


Bad debt expense for the year is $1,930.





2 speaks of accrued income; debit accrued income credit services
3. Debit bad debt expense, credit either provision for doubtful debts or debtors writing off the individual account balances