The trial balances before and after adjustment for Crane Company at the end of its fiscal year are presented below.CashAccounts ReceivableSuppliesPrepaid InsuranceEquipmentAccumulated Depreciation-EquipmentAccounts PayableSalaries and Wages PayableUnearned Rent RevenueOwner's CapitalService RevenueRent RevenueSalaries and Wages ExpenseSupplies ExpenseRent ExpenseInsurance ExpenseDepreciation ExpenseRent RevenueSalaries and Wages ExpenseSupplies ExpenseRent ExpenseInsurance ExpenseDepreciation ExpenseAug. 31Aug. 31Aug 31Aug. 31Date Account Titles and ExplanationAug. 31Aug 31.Aug 31Aug. 31CRANE COMPANYTrial BalanceAugust 31, 2022(To record supplies used)(To record supplies used)(To record insurance expired)$10,0008,90017,000(To record rent earned)14,800(To record monthly depreciation)12,400017,000BeforeAdjustmentDr.0$69,40014,80002,400(To record revenue for services performed)3,900(To record revenue for services performed)0(To record accrued salaries and wages)011,100Cr.$3,4005,80001,40013,70034,00011,10018,4001,70014,8001,200Prepare the adjusting entries that were made. (List all debit entries before credit entries. Credit account titles are automatically indentedwhen the amount is entered. Do not indent manually)1.100$69,400 $72,500AfterAdjustmentDr.$10,0009,5007002,70012,40018,4001,70014,8001.200110011,700$72.500DebitCr.$4,5005,8001,40080013,70034,60011,700Credit

Adjusting entries are the transactions recorded at the end of the period to adjust the advances…

The trial balances before and after adjustment for Crane Company at the end of its fiscal year are presented below. Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Owner's Capital Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expence CRANE COMPANY Trial Balance August 31, 2022 Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expense $10,000 8,900 2,400 3,900 12,400 17,000 17,000 0 Before Adjustment Dr. 14,800 14,800 0 0 0 0 11,100 Cr. $3,400 5,800 0 1,400 13,700 34,000 11.100 18,400 1,700 After Adjustment Dr. $10,000 9,500 700 2,700 12,400 18,400 1,700 14,800 1.200 14,800 1.200 1,100 $69,400 $69.400 $72.500 $72.500 1100 11,700 Cr. $4,500 5,800 1,400 800 13,700 34,600 11,700 Prepare the adjusting entries that were made. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually)

The trial balances before and after adjustment for Crane Company at the end of its fiscal year are presented below. Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Owner's Capital Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expence CRANE COMPANY Trial Balance August 31, 2022 Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expense $10,000 8,900 2,400 3,900 12,400 17,000 17,000 0 Before Adjustment Dr. 14,800 14,800 0 0 0 0 11,100 Cr. $3,400 5,800 0 1,400 13,700 34,000 11.100 18,400 1,700 After Adjustment Dr. $10,000 9,500 700 2,700 12,400 18,400 1,700 14,800 1.200 14,800 1.200 1,100 $69,400 $69.400 $72.500 $72.500 1100 11,700 Cr. $4,500 5,800 1,400 800 13,700 34,600 11,700 Prepare the adjusting entries that were made. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually)

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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