The trial balance columns of the worksheet for ABC Services at March 31 are as follows.ABC ServicesWorksheetFor the Quarter Ended March 31, 2021Trial BalanceAccount TitlesDebit CreditCash11,400Accounts Receivable5,620SuppliesPrepaid InsuranceEquipmentNotes PayableAccounts PayableOwner's CapitalOwner's Drawings1,0502,40030,00010,00012,35020,000600Service Revenue13,620Salaries and Wages ExpenseTravel ExpenseRent ExpenseMiscellaneous Expense2,2001,3001,20020055,970| 55,970TotalsOther data:1. Supplies on hand total Tk 480.2. Depreciation is Tk 800 per quarter.3. Interest accrued on 6-month note payable, issued January 1, Tk 300.4. Insurance expires at the rate of Tk 200 per month i.e., tk 600 for the quarter.5. Services provided but unbilled at March 31 total Tk 1,030Requirements:(b) Journalize the adjusting entries from the adjustments columns of the worksheet.

Supplies on hand TK 480 Depreciation TK 800 per qtr Interest Accrued on 6 months…

Totals 35,970 | 55,970 Other data: 1. Supplies on hand total Tk 480. 2. Depreciation is Tk 800 per quarter. 3. Interest accrued on 6-month note payable, issued January 1, Tk 300. 4. Insurance expires at the rate of Tk 200 per month i.e., tk 600 for the quarter. 5. Services provided but unbilled at March 31 total Tk 1,030 Requirements:

Totals 35,970 | 55,970 Other data: 1. Supplies on hand total Tk 480. 2. Depreciation is Tk 800 per quarter. 3. Interest accrued on 6-month note payable, issued January 1, Tk 300. 4. Insurance expires at the rate of Tk 200 per month i.e., tk 600 for the quarter. 5. Services provided but unbilled at March 31 total Tk 1,030 Requirements:

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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