Homework Help is Here – Start Your Trial Now!
Business
Accounting
A. Prepare the adjustment entries. B. Making the entries in the ledger. C. Prepare the adjusted trial balance. Use the following information to complete the exercise: 1. At the end of January, Carnes del País had supplies in the amount of $2,000. 2. At the end of January, the month of the prepaid insurance account, paid for the full year, was consumed. 3. Equipment depreciation is $1,500. 4. There is a salary debt as of January 31, 2020 of $600. 5. The balance sheets of the accounts before adjustments are as follows: Balance 200,550 25,000 6,000 account Cash prepaid insurance supplies Equipment Accounts receivable Unpaid notes Accounts payable Carmelo Ruiz, capital 169,100 Carmelo Ruiz, drawing 20,000 fee earned Utilities expense 35,000 122,850 42,800 50,000 839,500 24,500 620,000 3,500 45,000 Salary expense Advertising expense Rent expense

A. Prepare the adjustment entries. B. Making the entries in the ledger. C. Prepare the adjusted trial balance. Use the following information to complete the exercise: 1. At the end of January, Carnes del País had supplies in the amount of $2,000. 2. At the end of January, the month of the prepaid insurance account, paid for the full year, was consumed. 3. Equipment depreciation is $1,500. 4. There is a salary debt as of January 31, 2020 of $600. 5. The balance sheets of the accounts before adjustments are as follows: Balance 200,550 25,000 6,000 account Cash prepaid insurance supplies Equipment Accounts receivable Unpaid notes Accounts payable Carmelo Ruiz, capital 169,100 Carmelo Ruiz, drawing 20,000 fee earned Utilities expense 35,000 122,850 42,800 50,000 839,500 24,500 620,000 3,500 45,000 Salary expense Advertising expense Rent expense

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

A.)

A. Prepare the adjustment entries. B. Making the entries in the ledger. C. Prepare the adjusted trial balance. Use the following information to complete the exercise: 1. At the end of January, Carnes del País had supplies in the amount of $2,000. 2. At the end of January, the month of the prepaid insurance account, paid for the full year, was consumed. 3. Equipment depreciation is $1,500. 4. There is a salary debt as of January 31, 2020 of $600. 5. The balance sheets of the accounts before adjustments are as follows: account Balance Cash 200,550 25,000 prepaid insurance supplies Equipment Accounts receivable Unpaid notes Accounts payable Carmelo Ruiz, capital 169,100 Carmelo Ruiz, drawing 20,000 fee earned Utilities expense Salary expense 6,000 35,000 122,850 42,800 50,000 839,500 24,500 620,000 Advertising expense Rent expense 3,500 45,000
Transcribed Image Text:A. Prepare the adjustment entries. B. Making the entries in the ledger. C. Prepare the adjusted trial balance. Use the following information to complete the exercise: 1. At the end of January, Carnes del País had supplies in the amount of $2,000. 2. At the end of January, the month of the prepaid insurance account, paid for the full year, was consumed. 3. Equipment depreciation is $1,500. 4. There is a salary debt as of January 31, 2020 of $600. 5. The balance sheets of the accounts before adjustments are as follows: account Balance Cash 200,550 25,000 prepaid insurance supplies Equipment Accounts receivable Unpaid notes Accounts payable Carmelo Ruiz, capital 169,100 Carmelo Ruiz, drawing 20,000 fee earned Utilities expense Salary expense 6,000 35,000 122,850 42,800 50,000 839,500 24,500 620,000 Advertising expense Rent expense 3,500 45,000
Expert Solution
steps

Step by step

Solved in 4 steps with 4 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Loanable Funds Theory
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS