1. Use the following information to complete the Adjustments and Adjusted Trial Balance columns of the work sheet. a. Depreciation on equipment, $12 b. Accrued salaries, $15 c. The $21 of unearned revenue has been earned d. Supplies available at December 31, $60 e. Expired insurance, $24

1. Use the following information to complete the Adjustments and Adjusted Trial Balance columns of the work sheet. a. Depreciation on equipment, $12 b. Accrued salaries, $15 c. The $21 of unearned revenue has been earned d. Supplies available at December 31, $60 e. Expired insurance, $24

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter4: Adjusting Entries And The Work Sheet

Section: Chapter Questions

Problem 5E: Complete the work sheet for Ramey Company, dated December 31, 20, through the adjusted trial balance...

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Complete the work sheet for Ramey Company, dated December 31, 20--, through the adjusted trial balance using the following adjustment information: a. Expired or used-up insurance, $590. b. Depreciation expense on equipment, $750 (remember to credit the Accumulated Depreciation account for equipment, not Equipment). c. Wages accrued or earned since the last payday, $260 (owed and to be paid on the next payday). d. Supplies remaining, $80. If no amount is required, enter 0. ACCOUNT NAME 1 Cash 2 Supplies 3 Prepaid Insurance 4 Equipment 5 Accum. Depr., Equipment 6 Accounts Payable 7 S. Ramey, Capital 8 S. Ramey, Drawing 9 Service Fees 10 Rent Expense 11 Supplies Expense 12 Wages Expense 13 Miscellaneous Expense 14 15 16 17 18 TRIAL BALANCE DEBIT 5,190 430 1,200 4,678 1,700 965 267 765 98 Ramey Company Work Sheet For Month Ended December 31, 20-- 15,293 CREDIT 1,556 1,875 6,026 5,836 15,293 ADJUSTMENTS DEBIT CREDIT ADJUSTED TRIAL BALANCE DEBIT CREDIT 1 2 3 4 5 6 7 8 9 10 11 12 13…
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Complete the work sheet for Ramey Company, dated December 31, 20, through the adjusted trial balance using the following adjustment information: a. Expired or used-up insurance, 460. b. Depreciation expense on equipment, 870. (Remember to credit the Accumulated Depreciation account for equipment, not Equipment.) c. Wages accrued or earned since the last payday, 120 (owed and to be paid on the next payday). d. Supplies remaining, 80.
Prepare adjusting journal entries, as needed, considering the account balances excerpted from the unadjusted trial balance and the adjustment data. A. supplies actual count at year end, $6,500 B. remaining unexpired insurance, $6,000 C. remaining unearned service revenue, $1,200 D. salaries owed to employees, $2,400 E. depreciation on property plant and equipment, $18,000
A partial work sheet for Marges Place is shown below. Prepare the following adjustments on this work sheet for the month ended June 30, 20. a. Expired or used-up insurance, 450. b. Depreciation expense on equipment, 750. c. Wages accrued or earned since the last payday, 380 (owed and to be paid on the next payday). d. Supplies used, 110.
Prepare adjusting journal entries, as needed, considering the account balances excerpted from the unadjusted trial balance and the adjustment data. A. supplies actual count at year end, $6,500 B. remaining unexpired insurance, $6,000 C. remaining unearned service revenue, $1,200 D. salaries owed to employees, $2,400 E. depreciation on property plant and equipment, $18,000
December 31, 20, according to the Trial Balance, the Equipment account has a balance of 37,700.00.Adjustment data reveals that Depreciation Expense is 3,500.00. Journalize the adjusting entry.
Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate the adjusted balance and use a Bal. post reference to show the ending balance of each account. Depreciation for the current year includes Equipment, $600. The Accumulated Depreciation - Equipment unadjusted balance as of December 31 is $6,300.
At December 31, the unadjusted trial balance of H&R Tacks reports Equipment of $30,000 andzero balances in Accumulated Depreciation—Equipment and Depreciation Expense. Depreciationfor the period is estimated to be $6,000. Prepare the adjusting journal entry on December 31. Inseparate T-accounts for each account, enter the unadjusted balances, post the adjusting journalentry, and report the adjusted balance
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Required 1. Prepare and complete a 10-column work sheet for fiscal year 2019, starting with the unadjusted trial balance and including adjustments based on these additional facts. a. The supplies available at the end of fiscal year 2019 had a cost of $7,900. b. The cost of expired insurance for the fiscal year is $10,600. c. Annual depreciation on equipment is $7,000. d. The April utilities expense of $800 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $800 amount owed needs to be recorded. e. The company’s employees have earned $2,000 of accrued and unpaid wages at fiscal year-end. f. The rent expense incurred and not yet paid or recorded at fiscal year-end is $3,000. g. Additional property taxes of $550 have been assessed for this fiscal year but have not been paid or recorded in the accounts. h. The $300 accrued interest for April on the long-term notes payable has not yet been paid or recorded. 2. Using information…