L Chapter Five Problems i 2 Req 2 and 3 Analyze 7.5 points eBook Print Saved Enttps%253A%252F%252Flms.mneducation... 2. Record the adjusting entries in the Adjustments columns. 3. Complete the Trial Balance columns of the worksheet prior to making the adjusting entries. HERITAGE BOOK STORE AND SUPPLY COMPANY Worksheet (Partial) Month Ended November 30, 20X1 Trial Balance Account Name Debit Credit Cash Accounts receivable References Supplies Prepaid rent Mc Graw Hill Equipment Accumulated depreciation-Equipment Accounts payable Frank Ross, Capital Frank Ross, Drawing Fees income Depreciation expense-Equipment Rent expense Salaries expense Supplies expense Utilities expense Totals Previous < Prev 2 of 4 Adjustments Adjusted Trial Balance Debit Credit Debit Credit $ 92,300 15,248 18,400 84,000 110,000 $ 3,800 36,000 167,348 16,000 194,200 3,800 14,000 34,000 11,600 2,000 $ 401,348 $ 401,348 Next Next > ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation... CA Chapter Five Problems i Saved 7.5 2 points eBook The adjusted trial balance of Heritage Book Store and Supply Company as of November 30, 20X1, after the firm's first month of operations, appears below. Appropriate adjustments have been made for the following items: a. Supplies used during the month, $11,600. b. Expired rent for the month, $14,000. c. Depreciation expense for the month, $3,800. HERITAGE BOOK STORE AND SUPPLY COMPANY Adjusted Trial Balance November 30, 20X1 Account Name Debit Credit Print Cash $ 92,300 Accounts receivable 15,248 Supplies 18,400 Prepaid rent 84,000 References Equipment Accumulated depreciation-Equipment Accounts payable 110,000 $ 3,800 36,000 Frank Ross, Capital 167,348 Frank Ross, Drawing 16,000 Fees income 194,200 Depreciation expense-Equipment 3,800 Rent expense 14,000 Salaries expense 34,000 Supplies expense 11,600 Utilities expense 2,000 Totals $ 401,348 $ 401,348 Mc Graw Required: 2. Record the adjusting entries in the Adjustments columns. 3. Complete the Trial Balance columns of the worksheet prior to making the adjusting entries. Analyze: What was the balance of Prepaid Rent prior to the adjusting entry for expired rent?

L Chapter Five Problems i 2 Req 2 and 3 Analyze 7.5 points eBook Print Saved Enttps%253A%252F%252Flms.mneducation... 2. Record the adjusting entries in the Adjustments columns. 3. Complete the Trial Balance columns of the worksheet prior to making the adjusting entries. HERITAGE BOOK STORE AND SUPPLY COMPANY Worksheet (Partial) Month Ended November 30, 20X1 Trial Balance Account Name Debit Credit Cash Accounts receivable References Supplies Prepaid rent Mc Graw Hill Equipment Accumulated depreciation-Equipment Accounts payable Frank Ross, Capital Frank Ross, Drawing Fees income Depreciation expense-Equipment Rent expense Salaries expense Supplies expense Utilities expense Totals Previous < Prev 2 of 4 Adjustments Adjusted Trial Balance Debit Credit Debit Credit $ 92,300 15,248 18,400 84,000 110,000 $ 3,800 36,000 167,348 16,000 194,200 3,800 14,000 34,000 11,600 2,000 $ 401,348 $ 401,348 Next Next > ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation... CA Chapter Five Problems i Saved 7.5 2 points eBook The adjusted trial balance of Heritage Book Store and Supply Company as of November 30, 20X1, after the firm's first month of operations, appears below. Appropriate adjustments have been made for the following items: a. Supplies used during the month, $11,600. b. Expired rent for the month, $14,000. c. Depreciation expense for the month, $3,800. HERITAGE BOOK STORE AND SUPPLY COMPANY Adjusted Trial Balance November 30, 20X1 Account Name Debit Credit Print Cash $ 92,300 Accounts receivable 15,248 Supplies 18,400 Prepaid rent 84,000 References Equipment Accumulated depreciation-Equipment Accounts payable 110,000 $ 3,800 36,000 Frank Ross, Capital 167,348 Frank Ross, Drawing 16,000 Fees income 194,200 Depreciation expense-Equipment 3,800 Rent expense 14,000 Salaries expense 34,000 Supplies expense 11,600 Utilities expense 2,000 Totals $ 401,348 $ 401,348 Mc Graw Required: 2. Record the adjusting entries in the Adjustments columns. 3. Complete the Trial Balance columns of the worksheet prior to making the adjusting entries. Analyze: What was the balance of Prepaid Rent prior to the adjusting entry for expired rent?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 8EA: Record the journal entry for each of the following transactions. Glow Industries purchases 750...

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