ambrayas10
Feb 29, 2012, 10:41 AM
I am having trouble balancing my adjusted trial balance.
I'm not sure I am posting to the correct accounts.
1. Services provided but unbilled and uncollected at July 31 were $1,700
My answer:
1700 AR
1700 Revenue
Is this correct?
2. Depreciation on equipment for the month was $180.
My answer:
180 Depreciation expense
180 Accumulated depreciation expense
3. One-twelfth of the insurance expired----Insurance for the year was $1,800
My answer:
$150 Insurance expense
$150 Prepaid Insurance
4. An inventory count shows $320 of cleaning supplies on hand at July 31. 900 of cleaning supplies were purchased on account.
My answer:
580 supplies expense
580 supplies
5. Accrued but unpaid employee salaries $400
My answer
400 salaries expense
400 salaries payable.
I'm not sure I am posting to the correct accounts.
1. Services provided but unbilled and uncollected at July 31 were $1,700
My answer:
1700 AR
1700 Revenue
Is this correct?
2. Depreciation on equipment for the month was $180.
My answer:
180 Depreciation expense
180 Accumulated depreciation expense
3. One-twelfth of the insurance expired----Insurance for the year was $1,800
My answer:
$150 Insurance expense
$150 Prepaid Insurance
4. An inventory count shows $320 of cleaning supplies on hand at July 31. 900 of cleaning supplies were purchased on account.
My answer:
580 supplies expense
580 supplies
5. Accrued but unpaid employee salaries $400
My answer
400 salaries expense
400 salaries payable.