B. Prepare and adjusted trial balance as at 30 June 2016. ALEX BUSBY, MARKETING

Question

B. Prepare and adjusted trial balance as at 30 June 2016. ALEX BUSBY, MARKETING SERVICES Unadjusted Trial Balance as at 30 June 2016 Account name Debit $ Credit $ Cash at bank Accounts receivable 36 330 75 950 7 350 9 555 14 070 42 700 Prepaid rent Prepaid insurance Office supplies Office equipment Accumulated depreciation-office equipment Accounts payable Unearned fees Loan payable A. Busby, Capital A. Busby, Drawings Services revenue Salary expense Telephone expense Rent expense 8 645 42 000 3 850 28 210 258 100 182 000 284 400 200 200 21 350 35 700 $625205$625 205

Explanation / Answer

Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Paticulars Debit Credit 1) Supplies expense Dr                      12,110.00 To Supplies                      12,110.00 (14070- 1960) ii) Insurance expense DR                        5,460.00 To prepaid Insurance                        5,460.00 (9555/7*4) iii) Depreciation expense DR                        3,570.00 To Accumulated depreciation                        3,570.00 iv) Rent Expense DR                        2,450.00 To prepaid rent                        2,450.00 (7350/3*1) v) Interest expense Dr                        1,820.00 To Interest Payable                        1,820.00 vi) Unearned fees dr                        1,925.00 To Service revenue                        1,925.00 (3,850/2) Particulars Debit Credit Cash at Bank                      36,330.00 Accounts receivable                      75,950.00 Prepaid rent = 7350 - 2450                        4,900.00 Prepaid Insurance = 9555 - 5460                        4,095.00 Office supplies =14070 -12110                        1,960.00 Office equipment                      42,700.00 Accumulated depreciation = 8645 + 3570                      12,215.00 Accounts payable                      42,000.00 Unearned fees = 3850 - 1925                        1,925.00 Loan Payable                      28,210.00 Interest Payable                        1,820.00 A Busby Capital                    258,100.00 A Busby drawings                    182,000.00 Service revenue = 284400 + 1925                    286,325.00 Salary expense                    200,200.00 Telehone expense                      21,350.00 Supplies expense                      12,110.00 Insurance expense                        5,460.00 Depreciation expense                        3,570.00 Interest expense                        1,820.00 Rent expense = 35700 + 2450                      38,150.00 Total                    630,595.00                    630,595.00

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