Service

Chat Now

Show which columns would contain the adjusted balances by placing an "x" in the appropria

Show which columns would contain the adjusted balances by placing an "x" in the appropria

 Show which columns would contain the adjusted balances by placing an "x" in the appropriate column. Assume all accounts have normal balances.

 

Income StatementBalance Sheet

DebitCreditDebitCredit

Cash (example)_________________x__________

Accounts Receivable____________________________

Office Supplies____________________________

Prepaid Rent____________________________

Word Processing Equipment____________________________

Accounts Payable____________________________

M. Bryant, Capital____________________________

M. Bryant, Withdrawals____________________________

Word Processing Fees____________________________

Office Salaries Expense____________________________

Advertising Expense____________________________

Accumulated Amortization____________________________

Rent Expense____________________________

 

10) From the following data, prepare the adjustments for the month and record the appropriate debits and credits in T accounts.

(a) Office furniture costing $3,000 with no residual value has a life expectancy of 60 months.

(b) Supplies available $800, supplies on hand $500.

(c) Prepaid Insurance balance $500, one-fifth has expired.

11) Provide the adjusting entries to account for the differences between the trial balance amounts and the adjusted trial balance amounts for the accounts shown. Only a partial trial balance is provided. Use T accounts to show the adjustments.

 

Adjusted

Trial BalanceTrial Balance

                     Debit  Credit     Debit  Credit

Supplies325175

Prepaid Insurance800500

Equipment8,0008,000

Accum. Amort.7001,200

Service Fees1,2001,200

Amortization Exp.500

Telephone Exp.100100

Salaries Exp.375375

Insurance Expense300

Tripti 06-Dec-2019

Answer (UnSolved)

question Get solution