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5. Services performed but not recorded at October 31 are $300.

5. Services performed but not recorded at October 31 are $300.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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No. Date Account Titles and Explanation Debit Credit 1. Oct. 31 Supplies Expense $2,300 Supplies $2,300 2. Oct. 31 Insurance Expense $200 Prepaid Insurance $200 3. Oct. 31 Depreciation Expense $70 Accumulated Depreciation-Equipment $70 4. Oct. 31 Unearned Service Revenue $600 Service Revenue $600 5. Oct. 31 6. Oct. 31 Interest Expense $70 Interest Payable $70 7. Oct. 31 Salaries and Wages Expense Salaries and Wages Payable
Transcribed Image Text:No. Date Account Titles and Explanation Debit Credit 1. Oct. 31 Supplies Expense $2,300 Supplies $2,300 2. Oct. 31 Insurance Expense $200 Prepaid Insurance $200 3. Oct. 31 Depreciation Expense $70 Accumulated Depreciation-Equipment $70 4. Oct. 31 Unearned Service Revenue $600 Service Revenue $600 5. Oct. 31 6. Oct. 31 Interest Expense $70 Interest Payable $70 7. Oct. 31 Salaries and Wages Expense Salaries and Wages Payable
The trial balance for Pioneer Advertising is shown below. Wildhorse Advertising Trial Balance October 31, 2017 Debit Credit Cash $15,000 Supplies 2,900 Prepaid Insurance 800 Equipment 5,500 Notes Payable $4,400 Accounts Payable 2,700 Unearned Service Revenue 1,800 Owner's Capital 10,200 Owner's Drawings 600 Service Revenue 11,000 Salaries and Wages Expense 4,400 Rent Expense 900 $30,100 $30,100 Assume the following adjustment data. 1. Supplies on hand at October 31 total $600. 2. Expired insurance for the month is $200. 3. Depreciation for the month is $70. 4. Services related to unearned service revenue in October worth $600 were performed. 5. Services performed but not recorded at October 31 are $300. 6. Interest accrued at October 31 is $70. 7. Accrued salaries at October 31 are $1,000.
Transcribed Image Text:The trial balance for Pioneer Advertising is shown below. Wildhorse Advertising Trial Balance October 31, 2017 Debit Credit Cash $15,000 Supplies 2,900 Prepaid Insurance 800 Equipment 5,500 Notes Payable $4,400 Accounts Payable 2,700 Unearned Service Revenue 1,800 Owner's Capital 10,200 Owner's Drawings 600 Service Revenue 11,000 Salaries and Wages Expense 4,400 Rent Expense 900 $30,100 $30,100 Assume the following adjustment data. 1. Supplies on hand at October 31 total $600. 2. Expired insurance for the month is $200. 3. Depreciation for the month is $70. 4. Services related to unearned service revenue in October worth $600 were performed. 5. Services performed but not recorded at October 31 are $300. 6. Interest accrued at October 31 is $70. 7. Accrued salaries at October 31 are $1,000.
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