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The Trial Balance and information for year -end Dec 31 2018 adjustments for Fenway

The Trial Balance and information for year -end (Dec 31, 2018) adjustments for Fenway Sports Company are as follows: Account Debit Credit Cash 10,000 28,000 Accounts Receivable Supplies Prepaid Insurance Baseball Equipment Accumulated Depr.-Baseball Equipment 400 2,000 25,000 8,000 Accounts Payable 10,200 Wages Payable Henry Johns, Capital Henry Johns, Withdrawals 42,400 2,400 Service Reenue 38,000 Wages Expense Utilities Expense Insurance Expense Depreciation Expense Supplies Expense Rent Expense 14,000 5,800 11,000 98,600 Total 98,600 Adjustments Remember to add accounts as needed Supplies on hand at Dec 31 amounted to $80. The baseball equipment costing $25,000 had an estimated useful life of 5 years with a residual value of S5,000 Insurance Expired, $600 Wages earned by employees, but not yet paid amounted to S1100 a) b) d) Required: 1. Journalize & Post the Adjusting Entries 2. Prepare Adjusted Trial Balance

Feb 06 2020 View more View Less

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