Adjusted Trial Balance Company A July 31, 2020 Account Debit Credit Cash 14,000 Accounts Receivable 7,500 Prepaid Insurance 3,000 Prepaid Rent Truck 500 106,000 Accumulated Depreciation Accounts Payable Salaries Payable (3,000) (10,500) (2,000) (600) (113,700) (27,500) (600) Unearned Rent Retained Earnings Revenue Rent Earned (Revenue) Advertising Expense Commissions Expense 1,200 2,000 Depreciation Expense Insurance Expense 3,000 600 Interest Expense 3,100 Rent Expense Salaries Expense 7,000 10,000 157,900 (157,900) Total

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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Question

Record the required journal entries that demonstrate the change that
occurred from the Unadjusted Trial Balance to the Adjusted Trial Balance
Refer to images 2 & 3

Adjusted Trial Balance
Company A
July 31, 2020
Account
Debit
Credit
Cash
14,000
Accounts Receivable
7,500
Prepaid Insurance
Prepaid Rent
Truck
3,000
500
106,000
Accumulated Depreciation
Accounts Payable
Salaries Payable
(3,000)
(10,500)
(2,000)
(600)
(113,700)
(27,500)
(600)
Unearned Rent
Retained Earnings
Revenue
Rent Earned (Revenue)
Advertising Expense
Commissions Expense
1,200
2,000
Depreciation Expense
Insurance Expense
3,000
600
Interest Expense
3,100
Rent Expense
7,000
Salaries Expense
10,000
157,900 (157,900)
Total
Transcribed Image Text:Adjusted Trial Balance Company A July 31, 2020 Account Debit Credit Cash 14,000 Accounts Receivable 7,500 Prepaid Insurance Prepaid Rent Truck 3,000 500 106,000 Accumulated Depreciation Accounts Payable Salaries Payable (3,000) (10,500) (2,000) (600) (113,700) (27,500) (600) Unearned Rent Retained Earnings Revenue Rent Earned (Revenue) Advertising Expense Commissions Expense 1,200 2,000 Depreciation Expense Insurance Expense 3,000 600 Interest Expense 3,100 Rent Expense 7,000 Salaries Expense 10,000 157,900 (157,900) Total
Unadjusted Trial Balance
Company A
July 31, 2020
Account
Debit
Credit
Cash
14,000
Accounts Receivable
Prepaid Insurance
Prepaid Rent
5,000
3,600
2,000
Truck
106,000
Accumulated Depreciation
Accounts Payable
Salaries Payable
(7,000)
Unearned Rent
(1,200)
(113,700)
(25,000)
Retained Earnings
Revenue
Rent Earned (Revenue)
Advertising Expense
Commissions Expense
700
2,000
Depreciation Expense
Insurance Expense
Interest Expense
100
Rent Expense
5,500
Salaries Expense
8,000
146,900 (146,900)
Total
Transcribed Image Text:Unadjusted Trial Balance Company A July 31, 2020 Account Debit Credit Cash 14,000 Accounts Receivable Prepaid Insurance Prepaid Rent 5,000 3,600 2,000 Truck 106,000 Accumulated Depreciation Accounts Payable Salaries Payable (7,000) Unearned Rent (1,200) (113,700) (25,000) Retained Earnings Revenue Rent Earned (Revenue) Advertising Expense Commissions Expense 700 2,000 Depreciation Expense Insurance Expense Interest Expense 100 Rent Expense 5,500 Salaries Expense 8,000 146,900 (146,900) Total
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