I Cy.. FA - CH 4 - Full Cy.. FA - CH 4 - Full Cy. FA - CH 5 - Full Cy. FA - CH 3 - Full Cy. * 112 150% Ex 4.12 Use the following adjustment data on December 31 to complete a partial worksheet up to the adjusted trial balance. a. Fitness supplies on hand, $2,700. b. Depreciation taken on fi tness equipment, $500. JEANETTE'S FITNESS CENTER TRIAL BALANCE MARCH 31, 201X Debit Credit Cash in Bank 1050000 Accounts Receivable 580000 Fitness Supplies Fitness Equipment Accumulated Depreciation, Fitness Equipment J. Woodrich, Capital J. Woodrich, Withdrawals 5기0000 112 0000 550000 1457500 150000 15 30000 Fitness Fees 45000 Rent Expense Advertising Expense 22500 35 37500 35 37500

I Cy.. FA - CH 4 - Full Cy.. FA - CH 4 - Full Cy. FA - CH 5 - Full Cy. FA - CH 3 - Full Cy. * 112 150% Ex 4.12 Use the following adjustment data on December 31 to complete a partial worksheet up to the adjusted trial balance. a. Fitness supplies on hand, $2,700. b. Depreciation taken on fi tness equipment, $500. JEANETTE'S FITNESS CENTER TRIAL BALANCE MARCH 31, 201X Debit Credit Cash in Bank 1050000 Accounts Receivable 580000 Fitness Supplies Fitness Equipment Accumulated Depreciation, Fitness Equipment J. Woodrich, Capital J. Woodrich, Withdrawals 5기0000 112 0000 550000 1457500 150000 15 30000 Fitness Fees 45000 Rent Expense Advertising Expense 22500 35 37500 35 37500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question Content Area The unearned rent account has a balance of $48,360. If $3,714 of the $48,360 is unearned at the end of the accounting period, the amount of the adjusting entry is a.$44,646 b.$52,074 c.$48,360 d.$3,714
User Additional information: a. Annual depreciation of the equipment; $11,800. b. $12,309 of the prepaid insurance balance has expired c. Unbilled and unrecorded revenues at the year end totaled $31,300. Required: Use the information provided to complete the columns Unadjusted trial balance. Cash debit 14,800 Account receivable debit 32,800 Prepaid insurance debit 17,100 Equipment debit 103,500 Accumulated depreciation, equipment credit 23,300 Account payable credit 19,300 Abraham Nuna, capital credit 216,300 Abraham Nuna withdrawals debit 103,500 Revenues credit 217,600 Depreciation expense, equipment O Salaries expense debit 190,700 Insurance expense debit 14,800 Total debit 476,200 Total credit 476,200 What's the Adustment and Adjusted to trial balance
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5. EX.04-04.ALGO (Algorithmic) eBook A partial work sheet for Marge's Place is shown below. Prepare the following adjustments on this work sheet for the month ended June 30, 20-- a. Expired or used-up insurance, $650. b. Depreciation expense on equipment, $870 (Remember to credit the Accumulated Depreciation account for equipment, not Equipment). c. Wages accrued or earned since the last payday, $1,330 (owed and to be paid on the next payday). d. Supplies used, $110. If no amount is required, enter 0. 14 15 16 17 18 ACCOUNT NAME 1 Cash 2 Supplies 3 Prepaid Insurance 4 Equipment 5 Accumulated Depreciation, Equipment 6 Accounts Payable 7 M. Benson, Capital 8 M. Benson, Drawing 9 Income from Services 10 Rent Expense 11 Supplies Expense 12 Wages Expense 13 Miscellaneous Expense Marge's Place Work Sheet For Month Ended June 30, 20-- TRIAL BALANCE DEBIT 4,628 250 1,800 4,880 2,000 1,086 256 660 68 15,628 CREDIT 1,350 2,539 4,802 6,937 15,628 ADJUSTMENTS DEBIT CREDIT 1 2 3 4 5 6 7 8 9 10 11…
Exercise 15. Adjusting entries for depreciation; effect of error On December 31, a business estimates depreciation on equipment used during the first year of operations to be P8,500. If the adjusting entry were omitted, which items would be erroneously stated on (1) the SCI for the year and (2) the SFP as F December 31?
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On June 30 of the current year, Rosemount Copy Center has completed the Trial Balance columns of the work sheet. Analyze the adjustment information given here into debit and credit parts. Record the adjustments on the work sheet. Total the Adjustments columns. Adjustment Information June 30 Supplies on hand $188.00 Value of prepaid insurance 540.00 WORK SHEET For Month Ended June 30, 20-- ACCOUNT TITLE TRIAL BALANCE ADJUSTMENTS INCOME STATEMENT BALANCE SHEET DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT 1 Cash 8,715.00 1 2 Petty Cash 75.00 2 3 Accounts Receivable-Raymond O’Neil 642.00 3 4 Supplies 518.00 4 5 Prepaid Insurance 675.00 5 6 Accounts Payable-Western Supply 268.00 6 7 Akbar…
WORK SHEET AND ADJUSTING ENTRIES A partial work sheet for Jim Jacobs’Furniture Repair is shown as follows. Indicate by letters (a) through (d) the four adjustments in the Adjustments columns of the work sheet, properly matching each debit and credit. Complete the Adjustments columns.
Accrued Salaries Expense of $4,600. Accrued Salaries Expense of $4,600. Date Accounts Debit Credit Nov. 30Dec. 1Dec. 15Dec. 31 Depreciation in the amount of $200 was recorded on the furniture. Depreciation in the amount of $200 was recorded on the furniture. Date Accounts Debit Credit Nov. 30Dec. 1Dec. 15Dec. 31 Prepaid Insurance for the month expired. Remember, a four month insurance policy of $1,800 was paid for on December 1. Prepaid Insurance for the month expired. Remember, a four month insurance policy of $1,800 was paid for on December 1. Date Accounts Debit Credit Nov. 30Dec. 1Dec. 15Dec. 31 Office Supplies used during the month, $110. Office Supplies used during the month, $110. Date Accounts Debit Credit Nov. 30Dec. 1Dec. 15Dec. 31 Unearned Revenue earned during the month, $600. Unearned Revenue earned during the month,…
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