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    sweetipie's Avatar
    sweetipie Posts: 1, Reputation: 1
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    #1

    Jul 26, 2006, 03:16 PM
    Need help with balancing unadjusting trial balance
    Hi I need help with this trial balance. I have tried to balance it after adjusting it, but it just wouldn't balance in the end for me. Can someone please help me out.
    Cash (debit) 4200
    Prepaid insurance (debit) 1480
    Shop supplies (debit)990
    Shop equipment (debit) 3860
    Accumulated depreciation-shop equipment (credit) 770
    Building (debit)57500
    Accumulated depreciation-building (credit) 3840
    Land (debit) 55000
    Unearned rent (credit) 1600
    Long term notes payable (credit) 50000
    Capital (credit) 49860
    Rent earned (credit) 2400
    Fees earned (credit)23400
    Wages expense (debit) 3200
    Utilities expense (debit) 690
    Property taxes expense (debit) 600
    Interest expense (debit) 4350
    Totals (debit) 131,870 ((credit) 131870

    Adjustments:
    a. An insurance policy examination showed $1240 of expired insruance
    b. An inventory count showed $210 of unused shop supplies still available.
    c. Depreciation expense on shop equipment $350
    d. Depreciation expense on the building $2220
    e. xyz is behind on space rental payments, and this $200 of accrued revenues was unrecorded at the time the trial balance was prepared.
    f. $800 of unearned rent account balance was earned by year end
    g.Employee works five days a week for $50 per day. The employee was paid last week but has worked four days this week for which she has not been paid.
    h. Three month's property taxes, totallig $450 have accrued. This additional amount of property tax has not been recorded.
    I. One month's interest on the note payable, $600, has accrued but is unrecorded.
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #2

    Jul 26, 2006, 03:33 PM
    What are your JE for the adjustments?

    Post them and I will look at them and tell you if any of them are incorrect.
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