Help The following information applies to the questions displayed below. A six-c

Question

Help The following information applies to the questions displayed below. A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date Tr S 91,410 14,000 17,200 10,540 86,000 Cash Accounts receivable 91,410 18,500 4, 500 3,560 86,000 Offico supplies Prepaid insurance Office equipment Accum. Depreciation-office equip Accounts payable Interest payable Salaries payable Unearned consulting fees Long-tem notes payablo Common stock Retained earnings ividonds consulting fees earned 24,000 8,100 s 34,000 22,000 52, 000 32,400 21,600 18,000 3,000 11,000 14,000 52,000 32.400 21, 600 6,500 6, 500 161,000 173,500 Depreciation expense-0ffice equip 0. 10,000

Explanation / Answer

Account Unadjusted Trial balance Adjustments Adjusted Trial balance Explanation Cash 91410 0 0 91410 Accounts Receivable 14000 4500 0 18500 Consulting fees entry Office supplies 17200 0 12700 4500 Office supplies used Prepaid insurance 10540 0 6980 3560 Insurance used Office Equipment 86000 0 0 86000 Accumulated depreciation-Office equipments 24000 0 10000 34000 Depreciation charged Accounts payable 8100 0 9900 18000 Advertising expense is payable Interest payable 0 0 3000 3000 Interest expense payable Salaries Payable 0 0 11000 11000 Salaries provision is made Unearned consulting fees 22000 8000 0 14000 Adjusted against Consulting fees earned Long term notes payable 52000 0 0 52000 Common stock 32400 0 0 32400 Retained earnings 21600 0 0 21600 Dividends 6500 0 0 6500 Consulting fees earned 161000 0 12500 173500 Unearned consulting fees adjusted and new entry for fees earned passed Depreciation expense-Office equipment 0 10000 0 10000 Depreciation charged Salaries expense 67050 11000 0 78050 Salaries provision is made Interest expense 1250 3000 0 4250 Interest expense payable Insurance expense 0 6980 0 6980 Insurance used Rent expense 14800 0 0 14800 Office supplies expense 0 12700 0 12700 Office supplies used Advertising expense 12350 9900 0 22250 Advertising expense is payable Total 321100 321100 359500 359500

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