Prepare an adjusted trial balance on August 31, 2023. Date Account Debit Credit 31-Aug Prepaid Insurance 900 Insurance Expense 900 31-Aug Supplies Expense 350 Supplies 350 31-Aug Depreciation Expense 1,500 Accumulated Depreciation-Building 1,500 31-Aug Depreciation Expense 500 Accumulated Depreciation-Furniture 500 31-Aug Depreciation Expense 1,000 Accumulated Depreciation-Equipment 1,000 31-Aug Interest Expense 250 Interest Payabl 250 31-Aug Unearned Commission Revenue 750 Earned Commission Revenue 750 31-Aug Unearned Subscription Revenue 2,000 Earned Subsciption Revenue 2,000 31-Aug Salaries Expense 325 Salaries Payable 325
Prepare an adjusted trial balance on August 31, 2023. Date Account Debit Credit 31-Aug Prepaid Insurance 900 Insurance Expense 900 31-Aug Supplies Expense 350 Supplies 350 31-Aug Depreciation Expense 1,500 Accumulated Depreciation-Building 1,500 31-Aug Depreciation Expense 500 Accumulated Depreciation-Furniture 500 31-Aug Depreciation Expense 1,000 Accumulated Depreciation-Equipment 1,000 31-Aug Interest Expense 250 Interest Payabl 250 31-Aug Unearned Commission Revenue 750 Earned Commission Revenue 750 31-Aug Unearned Subscription Revenue 2,000 Earned Subsciption Revenue 2,000 31-Aug Salaries Expense 325 Salaries Payable 325
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Prepare an adjusted
Date | Account | Debit | Credit |
31-Aug | Prepaid Insurance | 900 | |
Insurance Expense | 900 | ||
31-Aug | Supplies Expense | 350 | |
Supplies | 350 | ||
31-Aug | 1,500 | ||
|
1,500 | ||
31-Aug | Depreciation Expense | 500 | |
Accumulated Depreciation-Furniture | 500 | ||
31-Aug | Depreciation Expense | 1,000 | |
Accumulated Depreciation-Equipment | 1,000 | ||
31-Aug | Interest Expense | 250 | |
Interest Payabl | 250 | ||
31-Aug | Unearned Commission Revenue | 750 | |
Earned Commission Revenue | 750 | ||
31-Aug | Unearned Subscription Revenue | 2,000 | |
Earned Subsciption Revenue | 2,000 | ||
31-Aug | Salaries Expense | 325 | |
Salaries Payable | 325 |
![Cash
15,000
Accounts Receiveable
3,100
Prepaid Insurance
900
Supplies
Land
2,500
20,000
Building
75,000
3100
900
350
2150
20000
75000
Furniture
5,000
Equipment
20,000
Accumulated Dep. - Bldg.
1500
20000
500
Accumulated Dep.- Furniture
500
1500
1000
Accumulated Dep. - Equipment
1000
Accounts Payable
Interest Payable
250
Salaries Payable
325
750
450
Unearned Commission Revenues
1,200
2000
4,400
Bank Loan Long Term
250
Unearned Subscriptions Revenues
57,600
325
800
1200
57,600
Share Capital
Retained Earnings
Income Summary
66,600
Commissions Earned
38650
Subscription Revenue
34,700
Advertising Expense
4,300
37,900
750
32,700
2,000
Depreciation Expense - Building
Depreciation Expense -Furniture
1000
Depreciation Expense -Equipment
1000
Insurance Expense
900
Interest Expense
2,365
250
Salaries Expense
33,475
325
Supplies Expense
15,800
350
Utilities Expense
2,860
900
2615
33800
16,150
2,860](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F685fada9-3b96-45a3-a255-e27f4923d726%2Fd6af9e25-1027-4016-ad1f-be1dd0910261%2Fice3bs_processed.png&w=3840&q=75)
Transcribed Image Text:Cash
15,000
Accounts Receiveable
3,100
Prepaid Insurance
900
Supplies
Land
2,500
20,000
Building
75,000
3100
900
350
2150
20000
75000
Furniture
5,000
Equipment
20,000
Accumulated Dep. - Bldg.
1500
20000
500
Accumulated Dep.- Furniture
500
1500
1000
Accumulated Dep. - Equipment
1000
Accounts Payable
Interest Payable
250
Salaries Payable
325
750
450
Unearned Commission Revenues
1,200
2000
4,400
Bank Loan Long Term
250
Unearned Subscriptions Revenues
57,600
325
800
1200
57,600
Share Capital
Retained Earnings
Income Summary
66,600
Commissions Earned
38650
Subscription Revenue
34,700
Advertising Expense
4,300
37,900
750
32,700
2,000
Depreciation Expense - Building
Depreciation Expense -Furniture
1000
Depreciation Expense -Equipment
1000
Insurance Expense
900
Interest Expense
2,365
250
Salaries Expense
33,475
325
Supplies Expense
15,800
350
Utilities Expense
2,860
900
2615
33800
16,150
2,860
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F685fada9-3b96-45a3-a255-e27f4923d726%2Fd6af9e25-1027-4016-ad1f-be1dd0910261%2Fisvds6_processed.png&w=3840&q=75)
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
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