Preparing Adjusting Entries from Unadjusted and Adjusted Trial Balances The unadjusted and adjusted Dec. 31, 2018 trial balances for the A.T. Design are presented below: A.T. Design Trial Balances December 31, 2018 Unadjusted Adjusted Cash P 72,000 331,000 48,000 125,000 170,000 850,000 72,000 331,000 36,000 72,000 Accounts Receivable Prepaid Insurance Supplies Land 170,000 Building Accum. Depreciation-Building Computer Equipment Accum. Depreciation-Computer Equipt. Notes Payable Accounts Payable Salaries Payable Interest Payable Mortgage Payable Tejero, Capital Tejero, Withdrawals Computer-Aided Design Service Reyenues Salaries Expense Insurance Expense Supplies Expense Depreciation Expense-Building Depreciation Expense-Computer Equipt. Interest Expense 850,000 P 230,000 P 245,000 620,000 620,000 106,000 124,000 550,000 143,000 34,000 77,000 470,000 310,000 550,000 143,000 470,000 310,000 250,000 250,000 1,470,000 1,470,000 813,000 847,000 12,000 53,000 15,000 18,000 77,000 P3,279,000 P3,279,000 P3,423,000 P3,423,000 Totals Required: Compare the unadjusted and adjusted trial balances. Determine the adjustments that were made.

Preparing Adjusting Entries from Unadjusted and Adjusted Trial Balances The unadjusted and adjusted Dec. 31, 2018 trial balances for the A.T. Design are presented below: A.T. Design Trial Balances December 31, 2018 Unadjusted Adjusted Cash P 72,000 331,000 48,000 125,000 170,000 850,000 72,000 331,000 36,000 72,000 Accounts Receivable Prepaid Insurance Supplies Land 170,000 Building Accum. Depreciation-Building Computer Equipment Accum. Depreciation-Computer Equipt. Notes Payable Accounts Payable Salaries Payable Interest Payable Mortgage Payable Tejero, Capital Tejero, Withdrawals Computer-Aided Design Service Reyenues Salaries Expense Insurance Expense Supplies Expense Depreciation Expense-Building Depreciation Expense-Computer Equipt. Interest Expense 850,000 P 230,000 P 245,000 620,000 620,000 106,000 124,000 550,000 143,000 34,000 77,000 470,000 310,000 550,000 143,000 470,000 310,000 250,000 250,000 1,470,000 1,470,000 813,000 847,000 12,000 53,000 15,000 18,000 77,000 P3,279,000 P3,279,000 P3,423,000 P3,423,000 Totals Required: Compare the unadjusted and adjusted trial balances. Determine the adjustments that were made.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter16: Accounting For Accounts Receivable

Section: Chapter Questions

Problem 8SPB: UNCOLLECTIBLE ACCOUNTSALLOWANCE METHOD Lewis Warehouse used the allowance method to record the...

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