Good Note Company specializes in the repair of music equipment and is owned and operated by Robin Stahl. On November 30, 2018, the end of the current year, the accountant for Good Note prepared the following trial balances: Good Note Company Trial Balances November 30, 2018 1 Unadjusted Debit Balances Unadjusted Credit Balances Adjusted Debit Balances Adjusted Credit Balances 2 Cash 38,250.00 38,250.00 3 Accounts Receivable 89,500.00 89,500.00 4 Supplies 11,250.00 2,400.00 5 Prepaid Insurance 14,250.00 3,850.00 6 Equipment 290,450.00 290,450.00 7 Accumulated Depreciation—Equipment 94,500.00 106,100.00 8 Automobiles 129,500.00 129,500.00 9 Accumulated Depreciation—Automobiles 54,750.00 62,050.00 10 Accounts Payable 24,930.00 26,130.00 11 Salaries Payable — 8,100.00 12 Unearned Service Fees 18,000.00 9,000.00 13 Common Stock 100,000.00 100,000.00 14 Retained Earnings 224,020.00 224,020.00 15 Dividends 75,000.00 75,000.00 16 Service Fees Earned 733,800.00 742,800.00 17 Salary Expense 516,900.00 525,000.00 18 Rent Expense 54,000.00 54,000.00 19 Supplies Expense — 8,850.00 20 Depreciation Expense—Equipment — 11,600.00 21 Depreciation Expense—Automobiles — 7,300.00 22 Utilities Expense 12,900.00 14,100.00 23 Taxes Expense 8,175.00 8,175.00 24 Insurance Expense — 10,400.00 25 Miscellaneous Expense 9,825.00 9,825.00 26 $1,250,000.00 $1,250,000.00 $1,278,200.00 $1,278,200.00 Compare the unadjusted trial balance to the adjusted trial balance. Journalize the seven entries that adjusted the accounts at November 30. None of the accounts were affected by more than one adjusting entry. Refer to the Chart of Accounts for exact wording of account titles.
Good Note Company specializes in the repair of music equipment and is owned and operated by Robin Stahl. On November 30, 2018, the end of the current year, the accountant for Good Note prepared the following trial balances: Good Note Company Trial Balances November 30, 2018 1 Unadjusted Debit Balances Unadjusted Credit Balances Adjusted Debit Balances Adjusted Credit Balances 2 Cash 38,250.00 38,250.00 3 Accounts Receivable 89,500.00 89,500.00 4 Supplies 11,250.00 2,400.00 5 Prepaid Insurance 14,250.00 3,850.00 6 Equipment 290,450.00 290,450.00 7 Accumulated Depreciation—Equipment 94,500.00 106,100.00 8 Automobiles 129,500.00 129,500.00 9 Accumulated Depreciation—Automobiles 54,750.00 62,050.00 10 Accounts Payable 24,930.00 26,130.00 11 Salaries Payable — 8,100.00 12 Unearned Service Fees 18,000.00 9,000.00 13 Common Stock 100,000.00 100,000.00 14 Retained Earnings 224,020.00 224,020.00 15 Dividends 75,000.00 75,000.00 16 Service Fees Earned 733,800.00 742,800.00 17 Salary Expense 516,900.00 525,000.00 18 Rent Expense 54,000.00 54,000.00 19 Supplies Expense — 8,850.00 20 Depreciation Expense—Equipment — 11,600.00 21 Depreciation Expense—Automobiles — 7,300.00 22 Utilities Expense 12,900.00 14,100.00 23 Taxes Expense 8,175.00 8,175.00 24 Insurance Expense — 10,400.00 25 Miscellaneous Expense 9,825.00 9,825.00 26 $1,250,000.00 $1,250,000.00 $1,278,200.00 $1,278,200.00 Compare the unadjusted trial balance to the adjusted trial balance. Journalize the seven entries that adjusted the accounts at November 30. None of the accounts were affected by more than one adjusting entry. Refer to the Chart of Accounts for exact wording of account titles.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter3: Review Of A Company's Accounting System
Section: Chapter Questions
Problem 10RE: Use the information in RE3-6, (a) assuming Ringo Company makes reversing entries, prepare the...
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Good Note Company specializes in the repair of music equipment and is owned and operated by Robin Stahl. On November 30, 2018, the end of the current year, the accountant for Good Note prepared the following trial balances:
Good Note Company
|
Trial Balances
|
November 30, 2018
|
1
|
|
Unadjusted Debit Balances
|
Unadjusted Credit Balances
|
Adjusted Debit Balances
|
Adjusted Credit Balances
|
2
|
Cash
|
38,250.00
|
|
38,250.00
|
|
3
|
Accounts Receivable
|
89,500.00
|
|
89,500.00
|
|
4
|
Supplies
|
11,250.00
|
|
2,400.00
|
|
5
|
Prepaid Insurance
|
14,250.00
|
|
3,850.00
|
|
6
|
Equipment
|
290,450.00
|
|
290,450.00
|
|
7
|
|
|
94,500.00
|
|
106,100.00
|
8
|
Automobiles
|
129,500.00
|
|
129,500.00
|
|
9
|
Accumulated Depreciation—Automobiles
|
|
54,750.00
|
|
62,050.00
|
10
|
Accounts Payable
|
|
24,930.00
|
|
26,130.00
|
11
|
Salaries Payable
|
|
—
|
|
8,100.00
|
12
|
Unearned Service Fees
|
|
18,000.00
|
|
9,000.00
|
13
|
Common Stock
|
|
100,000.00
|
|
100,000.00
|
14
|
|
|
224,020.00
|
|
224,020.00
|
15
|
Dividends
|
75,000.00
|
|
75,000.00
|
|
16
|
Service Fees Earned
|
|
733,800.00
|
|
742,800.00
|
17
|
Salary Expense
|
516,900.00
|
|
525,000.00
|
|
18
|
Rent Expense
|
54,000.00
|
|
54,000.00
|
|
19
|
Supplies Expense
|
—
|
|
8,850.00
|
|
20
|
Depreciation Expense—Equipment
|
—
|
|
11,600.00
|
|
21
|
Depreciation Expense—Automobiles
|
—
|
|
7,300.00
|
|
22
|
Utilities Expense
|
12,900.00
|
|
14,100.00
|
|
23
|
Taxes Expense
|
8,175.00
|
|
8,175.00
|
|
24
|
Insurance Expense
|
—
|
|
10,400.00
|
|
25
|
Miscellaneous Expense
|
9,825.00
|
|
9,825.00
|
|
26
|
|
$1,250,000.00
|
$1,250,000.00
|
$1,278,200.00
|
$1,278,200.00
|
Compare the unadjusted trial balance to the adjusted trial balance. Journalize the seven entries that adjusted the accounts at November 30. None of the accounts were affected by more than one adjusting entry. Refer to the Chart of Accounts for exact wording of account titles.
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