[Hdez01]

Please, I need help to adjust these transactions in the trial balance. This is my first time making a worksheet. Thanks in advance for your help. I do really appreciate it!!

Issued check xxx in the amount of 1000.00 for six months coverage on a truck.
Is this correct?
Insurance Expense DR-500
Prepaid Insurance CR-500
1000 X 6/12=500

If the Salaries Expense is DR 13,000 and the Salaries payable is 11,000 with a beginning balance of CR 333,452.00. How do I adjust these entries in the trial balance?
Also, the same situation with the payroll taxes expense and the payroll taxes payable with a beginning balance CR 30,000.00.

My last question is if I have an interest receivable of 500.00 an interest payable of 879.06 and an interest expense with a beginning balance of 9350.00? How do I adjust these entries in the trial balance?

It is this correct?
Interest Receivable DR 500.00
Capital CR 500.00 since an investment was making for the company and the 500 interest was earned.

Interest Payable CR 879.06
Expense DR Beginning Balance 9000.00 + 879.06=9879.06.

Again Thanks a million for your help.

[Just Looking]

The $1000 check is for the next six months of insurance coverage. Your debit should be to Prepaid Insurance for the full amount. Since you paid by check, your credit is to Cash.

I'm not really sure what you are saying about the Salaries and Payroll Taxes. Salaries Payable had a beginning balance of $333,452. Is that what it is currently on your trial balance or at some point did they have you adjust that number? If that is your current balance, are you saying it should now be $11,000 and the rest has been paid? If you could explain this differently, I will be able to help you.

If you are recording an Interest Receivable, you are correct that the dr is to Interest Receivable. The credit is Interest Income. The entry for Interest Payable is a debit to Interest Expense and a credit to Interest Payable.