FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Using the following unadjusted trial balance and the additional data, prepare the necessary
adjusting journal entries for the month ended September 30, 2021. You may round to the
nearest dolkar.
Jansen Co.
Trial Balance
September 30, 2021
Debit
Credit
Cash
Accounts Receivable
Supplies
Prepaid Insurance
Equipment
Notes Payable
Accounts Payable
Unearned Revenue
Davis Capital
David Drawing
Service Revenue
Salaries Expense
Utilities Expense
$41,100
70,600
11,300
4,000
34,000
$20,000
8,800
48,000
97,200
14,000
40,000
39,000
$214,000
$214,000
Additional Data:
a) The equipment was purchased on September 1. It has an estimated life of 10 years.
b) Supplies on hand at September 30 total $2,100.
c) The insurance policy was purchased on September 1. The policy is for 18 months.
d) Jansen agreed to provide 3 weeks of service beginning on September 23, a fee of
$1,200 will be collected on October 14 upon completion.
e) September 30 is a Wednesday, salaries of $20,000 are paid every other Friday. Salaries
were last paid on Friday September 25.
f) The note was signed on September 1. The note has a 5% annual interest rate and a term
of 6 months,
g) The unearned revenue account balance represents fees collected in advance during
September. As of September 30, one-quarter of the service has been provided.
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