Fill out Year end Adjustments, Adjusted trial balance, closing entries,closing t

Question

Fill out Year end Adjustments, Adjusted trial balance, closing entries,closing trial balance, adjusting entries, closing entries

Up A Hill Unadjusted Trial Balance July 31, 2015 Debits Credits Cash               22,000 Accounts Receivable               10,000 Prepaid Advertising               45,000 Supplies               22,000 Land               85,000 Building             130,000 Accumulated depreciation-Building             30,000 Accounts Payable             20,000 Unearned Rent Revenue               8,000 Wages Payable Capital Stock           120,000 Retained Earnings             80,000 Dividends                 2,500 Fees Earned           110,200 Rent Revenue Salaries and Wages Expense               24,000 Utilities Expense               12,600 Insurance Expense                 7,800 Repairs Expense                 4,200 Depreciation Expense-Building Advertising Expense Supplies expense Miscellaneous Expense                 3,100             368,200           368,200

Fill out Year end Adjustments, Adjusted trial balance, closing entries,closing trial balance, adjusting entries, closing entries

Explanation / Answer

adjusting entries as given in comments

a) Depreciation Expense Building Dr 3,500

Accumulated Depreciation Cr 3,500

b) Accounts Receivable Dr 5,000

Fee earned Cr 5,000

c) Salaries and wages expenses Dr 2,000

Wages Payable Cr 2,000

d) Unearned Rent revenue Dr 6,200

Rent Revenue Cr 6,200

e) advertising Expense Dr 29,000

Prepaid advertising Cr 29,000

f) Supplies expense Dr 9,000

Supplies Cr 9,000

Adjusted Trial Balance

Up A Hill adjusted Trial Balance 31-Jul-15 Debits Credits Cash               22,000 Accounts Receivable               15,000 Prepaid Advertising               16,000 Supplies               13,000 Land               85,000 Building             130,000 Accumulated depreciation-Building             33,500 Accounts Payable             20,000 Unearned Rent Revenue 1,800 Wages Payable 2,000 Capital Stock           120,000 Retained Earnings             80,000 Dividends                 2,500 Fees Earned           115,200 Rent Revenue 6,200 Salaries and Wages Expense               26,000 Utilities Expense               12,600 Insurance Expense                 7,800 Repairs Expense                 4,200 Depreciation Expense-Building 3,500 Advertising Expense 29,000 Supplies expense 9,000 Miscellaneous Expense                 3,100 378,700 378,700

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