The trial balances shown below are before and after adjustment for Sheridan Company at the end of its fiscal year. SHERIDAN COMPANY Trial Balance August 31, 2022 Before After Adjustment Cr. Adjustment Dr. Dr. Cr. Cash $10,150 $10,150 Accounts Receivable 9,120 9,690 Supplies Prepaid Insurance 2,800 1,740 4,080 2,690 Equipment 16,000 16,000 $3,600 Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable $4,800 5,500 5,500 1,750 Unearned Rent Revenue 1,980 1,190 Common Stock 15,930 15,930 Retained Earnings 5,760 5,760 Dividends 2,980 2,980 Service Revenue 34,000 34,570 Rent Revenue 12,590 13,380 Salaries and Wages Expense 16,570 18,320 Supplies Expense 1,060 Rent Expense 17,660 17,660 Insurance Expense 1,390 1,200 $82,880 Depreciation Expense $79,360 $79,360 $82,880 Prepare the adjusting entries that were made. (If no entry is required, select "No Entry" for the account titles and enter O for the amour Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
The trial balances shown below are before and after adjustment for Sheridan Company at the end of its fiscal year. SHERIDAN COMPANY Trial Balance August 31, 2022 Before After Adjustment Cr. Adjustment Dr. Dr. Cr. Cash $10,150 $10,150 Accounts Receivable 9,120 9,690 Supplies Prepaid Insurance 2,800 1,740 4,080 2,690 Equipment 16,000 16,000 $3,600 Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable $4,800 5,500 5,500 1,750 Unearned Rent Revenue 1,980 1,190 Common Stock 15,930 15,930 Retained Earnings 5,760 5,760 Dividends 2,980 2,980 Service Revenue 34,000 34,570 Rent Revenue 12,590 13,380 Salaries and Wages Expense 16,570 18,320 Supplies Expense 1,060 Rent Expense 17,660 17,660 Insurance Expense 1,390 1,200 $82,880 Depreciation Expense $79,360 $79,360 $82,880 Prepare the adjusting entries that were made. (If no entry is required, select "No Entry" for the account titles and enter O for the amour Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The trial balances shown below are before and after adjustment for Sheridan Company at the end of its fiscal year.
SHERIDAN COMPANY
Trial Balance
August 31, 2022
Before
After
Adjustment
Cr.
Adjustment
Dr.
Dr.
Cr.
Cash
$10,150
$10,150
Accounts Receivable
9,120
9,690
Supplies
Prepaid Insurance
2,800
1,740
4,080
2,690
Equipment
16,000
16,000
$3,600
Accumulated Depreciation-Equipment
Accounts Payable
Salaries and Wages Payable
$4,800
5,500
5,500
1,750
Unearned Rent Revenue
1,980
1,190
Common Stock
15,930
15,930
Retained Earnings
5,760
5,760
Dividends
2,980
2,980
Service Revenue
34,000
34,570
Rent Revenue
12,590
13,380
Salaries and Wages Expense
16,570
18,320
Supplies Expense
1,060
Rent Expense
17,660
17,660
Insurance Expense
1,390
1,200
$82,880
Depreciation Expense
$79,360
$79,360
$82,880
Prepare the adjusting entries that were made. (If no entry is required, select "No Entry" for the account titles and enter O for the amour
Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
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