Question

The trial balances shown below are before and after adjustment for Pharoah Company at the end of its fiscal year.

PHAROAH COMPANY Trial Balance August 31, 2017
		Before Adjustment				After Adjustment
		Dr.		Cr.		Dr.		Cr.
Cash		$11,050				$11,050
Accounts Receivable		9,120				9,700
Supplies		2,610				1,400
Prepaid Insurance		4,030				2,670
Equipment		16,840				16,840
Accumulated Depreciation—Equipment				$3,789				$4,989
Accounts Payable				5,800				5,800
Salaries and Wages Payable				0				1,650
Unearned Rent Revenue				1,850				1,070
Common Stock				18,360				18,360
Retained Earnings				5,160				5,160
Dividends		2,980				2,980
Service Revenue				34,000				34,580
Rent Revenue				12,580				13,360
Salaries and Wages Expense		16,350				18,000
Supplies Expense		0				1,210
Rent Expense		18,559				18,559
Insurance Expense		0				1,360
Depreciation Expense		0				1,200
		$81,539		$81,539		$84,969		$84,969

Prepare the adjusting entries that were made. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Aug. 31	enter an account title to record the service revenue	enter a debit amount	enter a credit amount
	enter an account title to record the service revenue	enter a debit amount	enter a credit amount
	(To record the service revenue)
Aug. 31	enter an account title to record the supplies expense	enter a debit amount	enter a credit amount
	enter an account title to record the supplies expense	enter a debit amount	enter a credit amount
	(To record the supplies expense)
Aug. 31	enter an account title to record the insurance expense	enter a debit amount	enter a credit amount
	enter an account title to record the insurance expense	enter a debit amount	enter a credit amount
	(To record the insurance expense)
Aug. 31	enter an account title to record the depreciation expense	enter a debit amount	enter a credit amount
	enter an account title to record the depreciation expense	enter a debit amount	enter a credit amount
	(To record depreciation expense)
Aug. 31	enter an account title to record salaries and wages expense	enter a debit amount	enter a credit amount
	enter an account title to record salaries and wages expense	enter a debit amount	enter a credit amount
	(To record salaries and wages expense)
Aug. 31	enter an account title to record the rent revenue	enter a debit amount	enter a credit amount
	enter an account title to record the rent revenue	enter a debit amount	enter a credit amount
	(To record rent revenue)

Answer 1

Journal

Date	Account Titles and Explanation	Debit	Credit
Aug. 31	Accounts receivable	580
	Service revenue		580
Aug. 31	Supplies expense	1,210
	supplies		1,210
Aug. 31	Insurance expense	1,360
	Prepaid insurance		1,360
Aug. 31	Depreciation expense	1,200
	Accumulated depreciation-Equipment		1,200
Aug. 31	Salaries and wages expense	1,650
	Salaries and wages payable		1,650
Aug. 31	Unearned rent revenue	780
	Rent revenue		780

Please do comment if you have any query, Thanks.