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-   -   Can't Grasp how to do a trial balance sheet with unadjusted and adjusted balances (https://www.askmehelpdesk.com/showthread.php?t=517342)

  • Oct 16, 2010, 01:40 PM
    roma7843
    Can't Grasp how to do a trial balance sheet with unadjusted and adjusted balances
    Can you please help me get these transactions in the right places?

    June 1 the following assets were received from Emily Page: cash $20000, A/R $4500, Supplies $2200, and Office Equipment $11500. When do I put these in the Trial Balance Sheet?
    June 1 - paid 3 month rent on a lease contract $6000
    June 2 Paid the premiums on porperty and casualty insurance policies $2400 do I split them into 2 different prepaid insurances or leave as one
    June 4 Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees $2700
    June 5 Purchased additional office equipment on account from office depot co. $3500
    June 6 Received cash from clients on account $3000
    June 10 Paid cash for a newspaper advertisement $200
    June 12 Paid Office Depot Co for part of the debit incurred on June 5 $750
    June 12 Recorded services provided on account for the period June 1-12 $5100
    June 14 Paid part time receptionist for 2 weeks salary $1100
    June 17 Recorded cash from cash clients for fees earned during the period June 1-16 $6500
    June 18 Paid cash for supplies $750
    June 20 Recorded services provided on account for the period June 13-20 $3100
    June 24 Recorded cash from cash clients for fees earned for the period June 17-24 $5150
    June 26 Received cash from clients on account $6900
    June 27 Paid part time receptionist for 2 weeks salary $1100
    June 29 Paid telephone bill for June $150
    June 30 Paid electricity bill for June $400
    June 30 Recorded cash from cash clients for fees earned for the period June 25-30 $2500
    June 30 Recorded services provided on account for the remainder of June $1000
    June 30 Emily withdrew $5000 for personal use.

    At the end of June the following adjustment data wer assembled.
    a. Insurance expired during June is $200
    b. Supplies on hand on June 30 are $650
    c. Depreciation of office equipment for June is $250
    d. Accrued receptionist salary on June 30 is $220
    e. Rent expired during June is $2000
    f. Unearned Fees on June 30 are $1875

    My confusion on the adjusted is where to put each item for debit and credit.
    Can you please help me.



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