megabane
Oct 10, 2015, 03:05 AM
This is my home work . I think that I have done with question a, but please check it for me. In question b, I can't prepare an adjusted trial balance ( always debits 77450 - Cr 74050 ).
Thank you so much !
P/s : sorry for my bad english.
Unadjusted trial balance
As at 30 June 2011
No.
Account title
Debit
Credit
Cash
$7750
Account receivable
6000
Prepaid insurance
1800
Supplies
2000
Office Equipment
15000
Accumulated depreciation
$10000
Account payable
4500
Service Revenue received in advance
4000
Share capital
30000
Retained earnings
3750
Service revenue
27900
Salaries expense
44000
Rent expense
1000
Insurance expense
600
Electricity expense
2000
$80150
$80150
Additional information: (accounting cycle is from 1 July, 2010 to 30 June, 2011)
1. Supplies on hand at 30 June total $1000
2. An electricity bill for $150 for June has not been recorded and will not be paid until next month
3. The prepaid insurance is the annual premium for insurance commencing on 1 January 2011.
4. Services were performed during the current period in relation to $2500 of revenue received in advance in the previous period
5. Salaries of $1500 are owed at 30 June
6. Depreciation expense for the year is $2000
7. Invoices representing $3000 of services performed during the month have not been recorded as of 30 June, 2011
Required:
a. Prepare adjusting entries as at 30 June, 2011
b. Prepare an adjusted trial balance as at 30 June, 2011 (hint: find out total balance of all accounts after adjustment process)
The part I did
sorry again because I write down in the papper.478574785847859
Thank you so much !
P/s : sorry for my bad english.
Unadjusted trial balance
As at 30 June 2011
No.
Account title
Debit
Credit
Cash
$7750
Account receivable
6000
Prepaid insurance
1800
Supplies
2000
Office Equipment
15000
Accumulated depreciation
$10000
Account payable
4500
Service Revenue received in advance
4000
Share capital
30000
Retained earnings
3750
Service revenue
27900
Salaries expense
44000
Rent expense
1000
Insurance expense
600
Electricity expense
2000
$80150
$80150
Additional information: (accounting cycle is from 1 July, 2010 to 30 June, 2011)
1. Supplies on hand at 30 June total $1000
2. An electricity bill for $150 for June has not been recorded and will not be paid until next month
3. The prepaid insurance is the annual premium for insurance commencing on 1 January 2011.
4. Services were performed during the current period in relation to $2500 of revenue received in advance in the previous period
5. Salaries of $1500 are owed at 30 June
6. Depreciation expense for the year is $2000
7. Invoices representing $3000 of services performed during the month have not been recorded as of 30 June, 2011
Required:
a. Prepare adjusting entries as at 30 June, 2011
b. Prepare an adjusted trial balance as at 30 June, 2011 (hint: find out total balance of all accounts after adjustment process)
The part I did
sorry again because I write down in the papper.478574785847859