Appendix EX 4-24 Adjustment data on an end-of-period spreadsheet Alert Security

Question

Appendix EX 4-24 Adjustment data on an end-of-period spreadsheet Alert Security Services Co. offers security services to business clients. The trial balance fo Alert Security Services Co. has been prepared on the following end-of-period spreadshee clients. The trial balance fo for the year ended October 31, 2016 Alert Security Services Co. End-of-Period Spreadsheet For the Year Ended October 31, 2016 Adjusted Trial Balance Dr. Unadjusted Tial Ealancejtments Tial Balanc. Adjustments Dr. Trial Balance Dr 12 90 Account Title Cash Accounts Receivable Supplies Prepaid Insurance Land Equipment Accum. Depr.-Equipment Accounts Payable Wages Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Insurance Expense Utilities Expense Supplies Expense Depreciation Expense Miscellaneous Expense Cr. 12 190 50 36 50 210 200 110 12 500 500 The data for year-end adjustments are as follows: a. Fees earned, but not yet billed, $13. b. Supplies on hand, $4. c. Insurance premiums expired, $10

Explanation / Answer

Answer:

Alert Security Services Co. End of Period Spreadsheet For the year ended October 31,2016 Particulars Unadjusted Trial balance Adjustments Adjusted Trial balance Dr. Cr. Dr. Cr. Dr. Cr. Cash 12 12 Accounts Receivable 90 103 Supplies 8 4 Prepaid insurance 12 2 Land 190 190 Equipment 50 50 Accum. Depr.-Equipment 4 7 Accounts Payable 36 36 Wages Payable 0 1 Common stock 50 50 Retained earnings 210 210 Dividends 8 8 Fees earned 200 13 213 Wages expense 110 1 111 Rent expense 12 12 Insurance expense 0 10 10 Utilities expense 6 6 Supplies expenses 0 4 4 Depreciation expenses 0 3 3 Miscellaneous expense 2 2 Total 500 500 7 24 517 517

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