Hi I need help! I am trying to do a worksheet but is having problems with the adjustments, I uploaded the transaction for April 31, my problem is the AdjustedTrial Balance is not balancing, I think the adjusting entries is correct. What am I doing incorrect. :confused:
The Adjusments are for:
a) The monthly insurance cost is $50.00
b) Office Supplies on hand on April 30,2007, amount to $180.00
c) The office equipment was purchased on April 1, 2006. On that date, it had an estimated useful life of 10 years.
d) On September 1, 2006, the automobile was purchased; it had an estimated useful life of five years.
e) A deposit is received in advance of providing any services for first-time customers. Amounts received in advance are recorded initially in the account Unearned Commissions. Based on services provided to these first-time customers, the balance in this account at the end of April should be $5,000.00
f) repeat customers are allowed to pay for services one month after the date of the sale of their property. Services rendered during the month but not yet collected or billed to these customers amount to $1,500.00
g) Interest owed on the note payable but not yet paid amounts to $20.00
h) salaries owed to employees but unpaid at the end of the month amount to $2,500.00