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29 Nov 2019
1. Prepare the Adjusting entries A-F. a. Insurance expiredduring June is $150.
b. Supplies on hand on June 30 are $1,020.
c. Depreciation of office equipment for June is $500.
d. Accrued receptionist salary on June 30 is $120.
e. Rent expired during June is $1,500.
f. Unearned fees on June 30 are $2,000.
2. Prepare an income statement, a statement of owner's equity,and a balance sheet.
3. Journalize and Post the adjusting entries.
4. Journalize and post the closing entries. (Income Summary isaccount #33 in the chart of accounts.)
5. Prepare a post-closing trial balance.
Debit Credit Accounts Receivable 3,450.00 Supplies 2,000.00 Prepaid Rent 4,500.00 Prepaid Insurance 1,800.00 Office Equipment 9,300.00 Accounts Payable 1,000.00 Unearned Fees 3,000.00 Dustin Larkin, Capital 20,250.00 Dustin Larkin, Drawing 4,500.00 Fees Earned 11,425.00 Salary Expense 800.00 Advertisement Expense 120.00 Telephone Expense 130.00 Electrical Expense 200.00 Cash 8,875.00 35,675.00 35,675.00
1. Prepare the Adjusting entries A-F. a. Insurance expiredduring June is $150.
b. Supplies on hand on June 30 are $1,020.
c. Depreciation of office equipment for June is $500.
d. Accrued receptionist salary on June 30 is $120.
e. Rent expired during June is $1,500.
f. Unearned fees on June 30 are $2,000.
2. Prepare an income statement, a statement of owner's equity,and a balance sheet.
3. Journalize and Post the adjusting entries.
4. Journalize and post the closing entries. (Income Summary isaccount #33 in the chart of accounts.)
5. Prepare a post-closing trial balance.
Debit | Credit | |
Accounts Receivable | 3,450.00 | |
Supplies | 2,000.00 | |
Prepaid Rent | 4,500.00 | |
Prepaid Insurance | 1,800.00 | |
Office Equipment | 9,300.00 | |
Accounts Payable | 1,000.00 | |
Unearned Fees | 3,000.00 | |
Dustin Larkin, Capital | 20,250.00 | |
Dustin Larkin, Drawing | 4,500.00 | |
Fees Earned | 11,425.00 | |
Salary Expense | 800.00 | |
Advertisement Expense | 120.00 | |
Telephone Expense | 130.00 | |
Electrical Expense | 200.00 | |
Cash | 8,875.00 | |
35,675.00 | 35,675.00 |
azharul97Lv10
9 Dec 2023
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