EX 3-26 Adjusting entries from trial balances OBJ. 4 The unadjusted and adjusted
ID: 2509532 • Letter: E
Question
EX 3-26 Adjusting entries from trial balances OBJ. 4 The unadjusted and adjusted trial balances for American Leaf Company on Otober 31, 2016, follow: American Leaf Company Trial Balances Octobor 31, 2016 Unadjusted Adjusted Debit Credit 16 16 38 12 10 Supplies Prepaid Insurance H Land .- Equipment. 26 40 12 26 Accumulated Depreciation Eauipment+ui wages Payable. … … … Sloane Kissel, CapitalP-HH Sloane Kissel, Drawing... Fees Earned... Wages Expense EH Rent Expense.... Insurance Expense Utilities Expense.... Depreciation Expense... Supplies Expense. … … Miscellaneous Expense 92 24 212 212 200 Journalize the ive entries thar acdiusted the accounts at Otober s1, 2016. None of the accounts were affected by morw than pne acdjusting entryExplanation / Answer
the following are the required adjusting entries:
date general journal debit credit oct 31 Accounts receivable a/c (44- 38) $6 ..........To Fees earned a/c (80-74) $6 (to record fees earned) oct 31 Supplies expense a/c $2 ..............To Supplies a/c (12-10) $2 (to record supplies expense) oct 31 insurance expense a/c $12 ...........To Prepaid insurance a/c (20-8) $12 (to record insurance expense) oct 31 depreciation expense a/c $4 .............To Accumulated depreciation -equipment $4 (to record depreciation expense) oct 31 wages expense a/c $2 ............To wages payable a/c $2 (to recored wages payable)Related Questions
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