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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
A.)
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
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