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Business
Accounting
Account Type Cash Accounts Receivable Prepaid Insurance Supplies Land Building Furniture Equipment Accumulated Depreciation - Building Accumulated Depreciation - Equipment Accumulated Depreciation - Furniture Accounts Payable Salaries Payable Interest Payable Unearned Commissions Revenue Unearned Subscriptions Revenue Bank Loan Share Capital Retained Earnings Income Summary Commissions Earned Subscriptions Revenue Advertising Expense Depreciation Expense - Building Depreciation Expense - Equipment Depreciation Expense - Furniture Insurance Expense Interest Expense Salaries Expense Supplies Expense Utilities Expense Totals Debits $15,000 3,100 -0- 2,500 20,000 75,000 5,000 20,000 4,300 -0- -0- -0- 1,800 2,365 33,475 15,800 2,860 $205,500 Credits $-0- -0- -0- 4,400 -0- -0- 1,200 800 57,600 66,600 -0- -0- 37,900 32,700 $205,500 General Ledger Date Account 31-Aug Prepaid Insurance Insurance Expense 31-Aug Supplies Expense Supplies 31-Aug Depreciation Expense Accumulated Depreciation-Building 31-Aug Depreciation Expense Accumulated Depreciation-Furniture 31-Aug Depreciation Expense Accumulated Depreciation-Equipment 31-Aug Interest Expense Interest Payabl 31-Aug Unearned Commission Revenue Earned Commission Revenue 31-Aug Unearned Subscription Revenue Earned Subsciption Revenue 31-Aug Salaries Expense Salaries Payable Debit 900 350 1,500 500 1,000 250 750 2,000 325 Credit 900 350 1,500 500 1,000 250 750 2,000 325

Account Type Cash Accounts Receivable Prepaid Insurance Supplies Land Building Furniture Equipment Accumulated Depreciation - Building Accumulated Depreciation - Equipment Accumulated Depreciation - Furniture Accounts Payable Salaries Payable Interest Payable Unearned Commissions Revenue Unearned Subscriptions Revenue Bank Loan Share Capital Retained Earnings Income Summary Commissions Earned Subscriptions Revenue Advertising Expense Depreciation Expense - Building Depreciation Expense - Equipment Depreciation Expense - Furniture Insurance Expense Interest Expense Salaries Expense Supplies Expense Utilities Expense Totals Debits $15,000 3,100 -0- 2,500 20,000 75,000 5,000 20,000 4,300 -0- -0- -0- 1,800 2,365 33,475 15,800 2,860 $205,500 Credits $-0- -0- -0- 4,400 -0- -0- 1,200 800 57,600 66,600 -0- -0- 37,900 32,700 $205,500 General Ledger Date Account 31-Aug Prepaid Insurance Insurance Expense 31-Aug Supplies Expense Supplies 31-Aug Depreciation Expense Accumulated Depreciation-Building 31-Aug Depreciation Expense Accumulated Depreciation-Furniture 31-Aug Depreciation Expense Accumulated Depreciation-Equipment 31-Aug Interest Expense Interest Payabl 31-Aug Unearned Commission Revenue Earned Commission Revenue 31-Aug Unearned Subscription Revenue Earned Subsciption Revenue 31-Aug Salaries Expense Salaries Payable Debit 900 350 1,500 500 1,000 250 750 2,000 325 Credit 900 350 1,500 500 1,000 250 750 2,000 325

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 an adjusted trial balance on August 31, 2023.

Account Type Cash Accounts Receivable Prepaid Insurance Supplies Land Building Furniture Equipment Accumulated Depreciation - Building Accumulated Depreciation - Equipment Accumulated Depreciation - Furniture Accounts Payable Salaries Payable Interest Payable Unearned Commissions Revenue Unearned Subscriptions Revenue Bank Loan Share Capital Retained Earnings Income Summary Commissions Earned Subscriptions Revenue Advertising Expense Depreciation Expense - Building Depreciation Expense - Equipment Depreciation Expense - Furniture Insurance Expense Interest Expense Salaries Expense Supplies Expense Utilities Expense Totals Debits $15,000 3,100 -0- 2,500 20,000 75,000 5,000 20,000 4,300 -0- -0- -0- 1,800 2,365 33,475 15,800 2,860 $205,500 Credits $-0- -0- -0- 4,400 -0- -0- 1,200 800 57,600 66,600 -0- -0- 37,900 32,700 $205,500
Transcribed Image Text:Account Type Cash Accounts Receivable Prepaid Insurance Supplies Land Building Furniture Equipment Accumulated Depreciation - Building Accumulated Depreciation - Equipment Accumulated Depreciation - Furniture Accounts Payable Salaries Payable Interest Payable Unearned Commissions Revenue Unearned Subscriptions Revenue Bank Loan Share Capital Retained Earnings Income Summary Commissions Earned Subscriptions Revenue Advertising Expense Depreciation Expense - Building Depreciation Expense - Equipment Depreciation Expense - Furniture Insurance Expense Interest Expense Salaries Expense Supplies Expense Utilities Expense Totals Debits $15,000 3,100 -0- 2,500 20,000 75,000 5,000 20,000 4,300 -0- -0- -0- 1,800 2,365 33,475 15,800 2,860 $205,500 Credits $-0- -0- -0- 4,400 -0- -0- 1,200 800 57,600 66,600 -0- -0- 37,900 32,700 $205,500
General Ledger Date Account 31-Aug Prepaid Insurance Insurance Expense 31-Aug Supplies Expense Supplies 31-Aug Depreciation Expense Accumulated Depreciation-Building 31-Aug Depreciation Expense Accumulated Depreciation-Furniture 31-Aug Depreciation Expense Accumulated Depreciation-Equipment 31-Aug Interest Expense Interest Payabl 31-Aug Unearned Commission Revenue Earned Commission Revenue 31-Aug Unearned Subscription Revenue Earned Subsciption Revenue 31-Aug Salaries Expense Salaries Payable Debit 900 350 1,500 500 1,000 250 750 2,000 325 Credit 900 350 1,500 500 1,000 250 750 2,000 325
Transcribed Image Text:General Ledger Date Account 31-Aug Prepaid Insurance Insurance Expense 31-Aug Supplies Expense Supplies 31-Aug Depreciation Expense Accumulated Depreciation-Building 31-Aug Depreciation Expense Accumulated Depreciation-Furniture 31-Aug Depreciation Expense Accumulated Depreciation-Equipment 31-Aug Interest Expense Interest Payabl 31-Aug Unearned Commission Revenue Earned Commission Revenue 31-Aug Unearned Subscription Revenue Earned Subsciption Revenue 31-Aug Salaries Expense Salaries Payable Debit 900 350 1,500 500 1,000 250 750 2,000 325 Credit 900 350 1,500 500 1,000 250 750 2,000 325
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