Q2) The following accounts are taken from the trial balance for TOTAL ADVERTISING AGENCY at October 31,2010. TOTAL ADVERTISING AGENCY Trial Balance October 31, 2010 Debit S15,200 2,500 |Credit Cash Advertising Supplies Prepaid Insurance Office Equipment Notes Payable Accounts Payable Unearned Revenue Саpital Drawing Service Revenue Salaries Expense Rent Expense TOTAL 600 5,000 S 5,000 2,500 1,200 10,000 500 10,000 4,000 900 S28,700 S28,700 An analysis of the accounts shows the following data 1. Advertising supplies on hand at October 31 total $500. 2. Expired insurance for the month is $100. 3. Depreciation for the month is $50. 4. Unearned revenue earned in October totals $600. 5. Services provided but not recorded at October 31 are $300. 6. Interest accrued at October 31 is $70. 7. Accrued salaries at October 31 are $1,500. Instructions Prepare the adjusting entries for the month of October.
Q2) The following accounts are taken from the trial balance for TOTAL ADVERTISING AGENCY at October 31,2010. TOTAL ADVERTISING AGENCY Trial Balance October 31, 2010 Debit S15,200 2,500 |Credit Cash Advertising Supplies Prepaid Insurance Office Equipment Notes Payable Accounts Payable Unearned Revenue Саpital Drawing Service Revenue Salaries Expense Rent Expense TOTAL 600 5,000 S 5,000 2,500 1,200 10,000 500 10,000 4,000 900 S28,700 S28,700 An analysis of the accounts shows the following data 1. Advertising supplies on hand at October 31 total $500. 2. Expired insurance for the month is $100. 3. Depreciation for the month is $50. 4. Unearned revenue earned in October totals $600. 5. Services provided but not recorded at October 31 are $300. 6. Interest accrued at October 31 is $70. 7. Accrued salaries at October 31 are $1,500. Instructions Prepare the adjusting entries for the month of October.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Q2) The following accounts are taken from the trial balance for TOTAL ADVERTISING
AGENCY at October 31,2010.
TOTAL ADVERTISING AGENCY
Trial Balance
October 31, 2010
Debit
Credit
Cash
Advertising Supplies
Prepaid Insurance
Office Equipment
Notes Payable
Accounts Payable
Unearned Revenue
Сapital
Drawing
Service Revenue
Salaries Expense
Rent Expense
TOTAL
S15,200
2,500
600
5,000
$ 5,000
2,500
1,200
10,000
500
10,000
4,000
900
S28,700
S28,700
An analysis of the accounts shows the following data
1. Advertising supplies on hand at October 31 total $500.
2. Expired insurance for the month is $100.
3. Depreciation for the month is $50.
4. Unearned revenue earned in October totals $600.
5. Services provided but not recorded at October 31 are S300.
6. Interest accrucd at October 31 is $70.
7. Accrued salaries at October 31 are $1,500.
Instructions
Prepare the adjusting entries for the month of October.
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