XIMI Company Worksheet For the month ended December 31, 2019 Unadjusted Trial Balance Debits Credits Cash 40,000 Accounts Receivable 20,000 Supplies 6,000 Prepaid Insurance 3,600 Equipment 38,000 Accumulated Depreciation: Equipment 8000 Notes Payable 17,000 Unearned Service Revenue 12,000 Owner's, Capital 67,000 Owner's, Drawings 8,000 Salaries Payable 4800 Interest payable 5000 Service Revenue 33,500 Salaries Expense 10,500 Advertising expense 9500 Repairs and Maintenance expense 6,500 Miscellaneous Expense 5,200 Total 147,300 147,300 Assume the following adjustment data for December 31. Supplies on hand on December 31 total $1000. Insurance paid in advance on December 1 for 12 months. Depreciation for the month is $800. Unearned service revenue earned in December totals $2000. Services provided but not recorded during the month were $8000. Interest accrued on December 31 is $2500. Accrued salaries on December 31 are $ 2000. Instructions Journalize the adjusting entries on December 31 in the General Journal. Prepare the 10-column worksheet on December 31. Prepare closing entries in the General Journal.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Q#2) Following is the Unadjusted Trial Balance of XIMI Company

XIMI Company
Worksheet
For the month ended December 31, 2019
Unadjusted Trial Balance
	Debits	Credits
Cash	40,000
Accounts Receivable	20,000
Supplies	6,000
Prepaid Insurance	3,600
Equipment	38,000
Accumulated Depreciation: Equipment		8000
Notes Payable		17,000
Unearned Service Revenue		12,000
Owner's, Capital		67,000
Owner's, Drawings	8,000
Salaries Payable		4800
Interest payable		5000
Service Revenue		33,500
Salaries Expense	10,500
Advertising expense	9500
Repairs and Maintenance expense	6,500
Miscellaneous Expense	5,200
Total	147,300	147,300

Assume the following adjustment data for December 31.

Supplies on hand on December 31 total $1000.
Insurance paid in advance on December 1 for 12 months.
Depreciation for the month is $800.
Unearned service revenue earned in December totals $2000.
Services provided but not recorded during the month were $8000.
Interest accrued on December 31 is $2500.
Accrued salaries on December 31 are $ 2000.

Instructions

Journalize the adjusting entries on December 31 in the General Journal.
Prepare the 10-column worksheet on December 31.

Prepare closing entries in the General Journal.

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