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Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Aug. 31 Accounts Receivable Debit Credit

Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Aug. 31 Accounts Receivable Debit Credit

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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Prepare the adjusting entries that were made. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Aug. 31 Aug. 31 Aug. 31 Aug. 31 Aug. 31 Aug. 31 Accounts Receivable Service Revenue (To record the service revenue) Supplies Expense Supplies (To record the supplies expense) Insurance Expense Prepaid Insurance (To record the insurance expense) Depreciation Expense Accumulated Depreciation-Buildings (To record depreciation expense) Salaries and Wages Expense Salaries and Wages Payable (To record salaries and wages expense) Unearned Rent Revenue Rent Revenue (To record rent revenue) Debit 000 Credit INII
Transcribed Image Text:Prepare the adjusting entries that were made. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Aug. 31 Aug. 31 Aug. 31 Aug. 31 Aug. 31 Aug. 31 Accounts Receivable Service Revenue (To record the service revenue) Supplies Expense Supplies (To record the supplies expense) Insurance Expense Prepaid Insurance (To record the insurance expense) Depreciation Expense Accumulated Depreciation-Buildings (To record depreciation expense) Salaries and Wages Expense Salaries and Wages Payable (To record salaries and wages expense) Unearned Rent Revenue Rent Revenue (To record rent revenue) Debit 000 Credit INII
The trial balances shown below are before and after adjustment for Pharoah Company at the end of its fiscal year. PHAROAH COMPANY Trial Balance August 31, 2022 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expense Dr. Before Adjustment $10,360 8,520 2,950 4,310 16,640 3,000 16,010 0 18.914 $80,704 Cr. $3,744 5,150 0 1,880 18,530 5,130 34,000 12,270 $80,704 Dr. After Adjustment $10,360 9,270 1,720 3,100 16,640 3,000 17,740 1,230 18,914 1,210 1,200 $84,384 Cr. $4,944 5,150 1,730 1,120 18,530 5,130 34,750 13,030 $84,384 Prepare the adjusting entries that were made. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Transcribed Image Text:The trial balances shown below are before and after adjustment for Pharoah Company at the end of its fiscal year. PHAROAH COMPANY Trial Balance August 31, 2022 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expense Dr. Before Adjustment $10,360 8,520 2,950 4,310 16,640 3,000 16,010 0 18.914 $80,704 Cr. $3,744 5,150 0 1,880 18,530 5,130 34,000 12,270 $80,704 Dr. After Adjustment $10,360 9,270 1,720 3,100 16,640 3,000 17,740 1,230 18,914 1,210 1,200 $84,384 Cr. $4,944 5,150 1,730 1,120 18,530 5,130 34,750 13,030 $84,384 Prepare the adjusting entries that were made. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
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