Question

The adjusted trial balance of College Book Store as of November 30, 2016, after the firm's first month of operations, appears below. Appropriate adjustments have been made for the following items: a. Supplies used during the month, $4,300. b. Expired rent for the month, $5,500. c. Depreciation expense for the month, $2,150. Credit COLLEGE BOOK STORE Adjusted Trial Balance November 30, 2016 Account Name Debit 44,650 Cash Accounts Receivable 6,124 Supplies 6,200 33,000 Prepaid Rent 53.500 Equipment Accumulated Depreciation Equipment Accounts Payable Randy Moss, Capital Randy Moss, Drawing 5.000 2150 15,000 80,674

Answer 1

Answer page-01 Required COLLEGE BOOK STORE Adjustment entries November 30, 2016 Adjusted T u nadjusted to Debit credit / Debit 44650 44650 | 6194 6200 credit 6124 Account name I cash Accounts rieceivable | Supplies relepuid sent Equipment 10500 33000 38500 53500 53500 2150 15000 15000 80674 27450 80614 77450 3150 Accumulated depreciation -equipo accounts payable Randy Moss, capital | Fees income depapriation fapense-equipment Rent expense. salariel expense Supplies exponse utilities expense Randy Mans, drawing Totals 5500 14000 14000 4300 850 850 5000 5000 175,274 145274 193194 173124

page: od COLLEGE Book STORE Trial Balance - November 30, 2016 Debit 4300 Account slame Credit cash Accounts receivable -Supplies -prepaid rent. 5500 {quipment Accumulated depreciation - equipment 2150 Accounts payable Rany Moss, capital Randy Moss, drawing Fees income depreciation expense -equipment 9150 Rent expense. 5500 salaries expense. Supplies expeose 4300 utilities expense Totals 11950 11950 balance of prepaid Rent prior to the adjusting entry 889 expired spent = ( 33000+5500) = 385007