Question

(The following information applies to the questions displayed below.) A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31. The last two columns contain the adjusted trial balance as of the same date. Unadjusted Trial Balance $120,660 11,000 17,800 6,640 82,000 $ 23,000 9,100 Cash Accounts receivable Office supplies Prepaid insurance Office equipment Accum. Depreciation-office equip. Accounts payable Interest payable Salaries payable Unearned consulting fees Long-term notes payable J. Logan, Capital J. Logan, Withdrawals Consulting fees earned Depreciation expense-Office equip. Salaries expense Interest expense Insurance expense Rent expense Office supplies expense Advertising expense Totals 30,000 62,000 52,000 Adjusted Trial Balance $120,660 23,500 4,000 2,960 82,000 $ 30,000 12,000 1,500 17,000 15,000 62,000 52,000 5,500 190,500 7,000 84,320 2,780 3,680 14,640 13,800 15,160 $380,000 $380,000 5,500 163,000 67,320 1,280 14,640 12,260 $339,100 $339, 100

Answer 1

Account	Unadjusted Trial Balance		Adjustments		Adjusted Trial Balance
	Dr	Cr	Dr	Cr	Dr	Cr
Cash	$120,660				$120,660
Accounts receivable	$11,000		$12,500		$23,500
Office supplies	$17,800			$13,800	$4,000
Prepaid insurance	$6,640			$3,680	$2,960
Office equipment	$82,000				$82,000
Accumulated depreciation-Office equipment		$23,000		$7,000		$30,000
Accounts payable		$9,100		$2,900		$12,000
Interest payable				$1,500		$1,500
Salaries payable				$17,000		$17,000
Unearned Consulting fees		$30,000	$15,000			$15,000
Long-term notes payable		$62,000				$62,000
L.Logan, capital		$52,000				$52,000
L.Logan, withdrawals	$5,500				$5,500
Consulting fees earned		$163,000		$12,500		$175,500
Consulting fees earned (Unearned fees adjusted)				$15,000		$15,000
Depreciation expense-office equipment			$7,000		$7,000
Salaries expense	$67,320		$17,000		$84,320
Interest expense	$1,280		$1,500		$2,780
Insurance expense			$3,680		$3,680
Rent expense	$14,640				$14,640
Office supplies expense			$13,800		$13,800
Advertising expense	$12,260		$2,900		$15,160
Totals	$339,100	$339,100	$73,380	$73,380	$380,000	$380,000

________________________________________________________________________

Working as follows:

Accounts receivable balance  increased that indicates consulting fees earned, entry as below:

Credit Account Title Accounts receivable Consulting fees earned Debit $12.500 $12.500

and,

Unearned consulting balance decrease that indicated fees earned during the period, entry as below:

Credit Account Title Unearned consulting fees Consulting fees earned (Unearned fees adjusted) Debit $15,000 $15,000

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