Balance sheet and adjustments
Can someone tell me which type of Adjustments (Adjusted Trial Balance or Adjustment) the following are? Im trying to put them in my balance sheet.And would they be accounts recievable or notes payable or something else. I am confused
a. As of December 31, 2005, employees had earned $900 of unpaid and unrecorded salaries. The
Next payday is January 4, at which time $1,600 of salaries will be paid.
b. The cost of supplies still available at December 31, 2005, is $2,700.
c. The notes payable requires an interest payment to be made every three months. The amount
Of unrecorded accrued interest at December 31, 2005, is $1,250. The next interest payment,
At an amount of $1,500, is due on January 15, 2006.
d. Analysis of the unearned member fees account shows $5,600 remaining unearned at December
31, 2005.
e. In addition to the member fees included in the revenue account balance, the company has earned
Another $9,100 in unrecorded fees that will be collected on January 31, 2006. The company
Is also expected to collect $8,000 on that same day for new fees earned in January 2006.
f. Depreciation expense for the year is $12,500.
