Question

Problem 3 Page 6 Chapter 03 Group Work - STU Beerbo Advertising was founded in January 2013. Presented below are adjusted and unadjusted trial balances as of December 31, 2020 SO Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accum. Depr. - Equip. Accounts Payable Interest Payable Note Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Interest Expense Depreciation Expense Supplies Expense Rent Expense BEERBO ADVERTISING Trial Balance December 31, 2020 Unadiusted Adjusted DR CR D R CR $ 11,000 $ 11,000 $ 20.000 $ 23,500 $ 8,400 $3,000 $ 3,350 $ 2,500 $ 60,000 $ 60,000 I $ 28,000 $ 33,000 $ 5,000 $ 5,000 $ 150 $5,000 $5,000 $7,000 $ 5,600 SO $ 1,300 $ 10,000 $ 10,000 $ 3,500 $ 3,500 1 $ 58,600 $ 63,500 $10,000 $ 11,300 $ 850 $350 $ 500 I $5,000 S 5,400 $ 4.000 T $117.1001 $117.1001 $1270501 $127050 Instructions: Record the journal entries that show how the UNADJUSTED balances changed to the ADJUSTED balances. Adjusting journal entry for ACCOUNTS RECEIVABLE By how was 'ACCOUNTS RECEIVABLE' adjusted? (in absolute $] What was the nature of the adjustment? [increase / decrease) Below record the adjusting journal entry to recognize the adjustment. Dec Debit Credit Adjusting journal entry for UNEARNED SERVICE REVENUE By how was 'UNEARNED SERVICE REVENUE' adjusted? (in absolute $] What was the nature of the adjustment? [increase / decrease Below, record the adjusting journal entry to recognize the adjustment. Dec Debit Credit

Answer 1

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Learning Series- Maths Lab Manual. Date. ON A! (d). Journal Endsiy for Adjusting Interest Payable 3150 Increage Interest Payable wes adjusted by $150 %$150 Interest 9le D4. 7. Intexest Payable Teacher's Signature.