Trial Balance DR CR Cash 10,000 AR 2,000 Supplies &nb
| Trial Balance | ||||||||||||
| DR | CR | |||||||||||
| Cash | 10,000 | |||||||||||
| AR | 2,000 | |||||||||||
| Supplies | 1,000 | |||||||||||
| Equipment | 5,000 | |||||||||||
| Accum depreciation | 2,000 | |||||||||||
| Automobile | 15,000 | |||||||||||
| Accum depreciation | 3,000 | |||||||||||
| AP | 5,000 | |||||||||||
| Wages Payable | 2,000 | |||||||||||
| Unearned Fees | 3,000 | |||||||||||
| Jones, Capital | 10,700 | |||||||||||
| Jones, Drawing | 1,000 | |||||||||||
| Fees Earned | 12,000 | |||||||||||
| Rent Expense | 2,000 | |||||||||||
| Wages Expense | 1,000 | |||||||||||
| Utility Expense | 500 | |||||||||||
| Supplies Expense | - | |||||||||||
| Depreciation Expense | - | |||||||||||
| Misc. Expense | 200 | |||||||||||
| Total | 37,700 |
37,700 |
||||||||||
The following adjustments have accured. Place these on your
worksheet under the following
|
||||||||||||
| If the account is not currently there, add it to the bottom. | ||||||||||||
| 1. Used $500 of supplies. | ||||||||||||
| 2. Earned $5,000 of fees this period, but have not been billed yet | ||||||||||||
| 3. Depreciation expense on the equipment is period is $300 | ||||||||||||
| 4. Wages earned but not paid yet, $2000 | ||||||||||||
| 5. Earned $1000 of the unearned fees | ||||||||||||
Homework Answers
| Worksheet | ||||||||||
| Unadjusted Trial Balance | Adjustment entries effect | Adjusted Trial Balance [Answer] | Income statement | Balance sheet | ||||||
| Accounts | Debit | Credit | Debit | Credit | Debit | Credit | Debit | Credit | Debit | Credit |
| Cash | $ 10,000 | $ 10,000 | $ 10,000 | |||||||
| AR | $ 2,000 | $5,000 | $ 7,000 | $ 7,000 | ||||||
| Supplies | $ 1,000 | $ 500 | $ 500 | $ 500 | ||||||
| Equipment | $ 5,000 | $ 5,000 | $ 5,000 | |||||||
| Accum depreciation | $ 2,000 | $ 300 | $ 2,300 | $ 2,300 | ||||||
| Automobile | $ 15,000 | $ 15,000 | $ 15,000 | |||||||
| Accum depreciation | $ 3,000 | $ 3,000 | $ 3,000 | |||||||
| AP | $ 5,000 | $ 5,000 | $ 5,000 | |||||||
| Wages Payable | $ 2,000 | $ 2,000 | $ 4,000 | $ 4,000 | ||||||
| Unearned Fees | $ 3,000 | $1,000 | $ 2,000 | $ 2,000 | ||||||
| Jones, Capital | $ 10,700 | $ 10,700 | $ 10,700 | |||||||
| Jones, Drawing | $ 1,000 | $ 1,000 | $ 1,000 | |||||||
| Fees Earned | $ 12,000 | $ 6,000 | $ 18,000 | $ 18,000 | ||||||
| Rent Expense | $ 2,000 | $ 2,000 | $ 2,000 | |||||||
| Wages Expense | $ 1,000 | $2,000 | $ 3,000 | $ 3,000 | ||||||
| Utility Expense | $ 500 | $ 500 | $ 500 | |||||||
| Supplies Expense | $ - | $ 500 | $ 500 | $ 500 | ||||||
| Depreciation Expense | $ - | $ 300 | $ 300 | $ 300 | ||||||
| Misc. Expense | $ 200 | $ 200 | $ 200 | |||||||
| Total | $ 37,700 | $ 37,700 | $8,800 | $ 8,800 | $ 45,000 | $ 45,000 | $ 6,500 | $ 18,000 | $38,500 | $ 27,000 |
| Net income | $ 11,500 | $ 11,500 | ||||||||
| Total | $ 37,700 | $ 37,700 | $ 8,800 | $ 8,800 | $ 45,000 | $ 45,000 | $ 18,000 | $ 18,000 | $ 38,500 | $ 38,500 |
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Supplies on hand, $6.
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Depreciation expense, $13.
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adjusted trial balance for the unadjusted trial balancece
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The data for year-end adjustments are as
follows:
Fees earned, but not yet billed, $26.
Supplies on hand, $6.
Insurance premiums expired, $32.
Depreciation expense, $13.
Wages accrued, but not paid, $13.
Alert Security Services Co. offers security services to business clients. The trial balance for Alert Security Services Co. has been prepared on the end-of-period spreadsheet for the year ended October 31, 2018, shown below. Alert Security Services Co. End-of-Period Spreadsheet For the Year Ended October 31, 2018 Unadjusted...
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