adiusted trial balance of University Book Store as of November 30, 2019, after t
ID: 2528576 • Letter: A
Question
adiusted trial balance of University Book Store as of November 30, 2019, after the firm's first month of operations, appears below. te adjustments have been made for the following items: a Supplies used during the month, $5,400 b. Expired rent for the month, $6,600 c Depreciation expense for the month, $1,700 UNIVERSITY BOOK STORE Adjusted Trial Balance November 30, 2019 Account Name Debit Credit S 45,750 Cash Accounts Receivable 2 7,224 8,400 39,600 54,600 Prepaid Rent $ 1,700 17,200 82,874 7.200 Ruby Darbandi, Drawing Fees Income 91,860 Expense-Equipment 1,700 6,600 16,200 5,400 960 Rent Expense Utilities Expense Totals $193,634 $193,634 Required: 2 Record the adjusting entries in the Adjustments columns. 3. Complete the Trial Balance columns of the worksheet prior to making the adjusting entries Analyze What was the balance of Prepaid Rent prior to the adjusting entry for expired rent?Explanation / Answer
Answer
Trail Balance
Adjustments
Adjusted Trial balance
Debit
Credit
Debit
Credit
Debit
Credit
Cash
$ 45,750.00
$ 45,750.00
Accounts receivables
$ 7,224.00
$ 7,224.00
Supplies
$ 13,800.00
$ 5,400.00
$ 8,400.00
Prepaid rent
$ 46,200.00
$ 6,600.00
$ 39,600.00
Equipment
$ 54,600.00
$ 54,600.00
Accum Dep - Equipment
$ 1,700.00
$ 1,700.00
Accounts payable
$ -
$ 17,200.00
$ 17,200.00
Ruby Capital
$ -
$ 82,874.00
$ 82,874.00
Ruby Drawings
$ 7,200.00
$ 7,200.00
Fees Income
$ -
$ 91,860.00
$ 91,860.00
Depreciation expense - Equipment
$ -
$ 1,700.00
$ 1,700.00
rent expense
$ -
$ 6,600.00
$ 6,600.00
Salaries expense
$ 16,200.00
$ 16,200.00
Supplies expense
$ -
$ 5,400.00
$ 5,400.00
Utilities expense
$ 960.00
$ 960.00
Totals
$ 1,91,934.00
$ 1,91,934.00
$ 13,700.00
$ 13,700.00
$ 1,93,634.00
$ 1,93,634.00
Balance of Prepaid Rent prior to adjustment entry was $46,200
Trail Balance
Adjustments
Adjusted Trial balance
Debit
Credit
Debit
Credit
Debit
Credit
Cash
$ 45,750.00
$ 45,750.00
Accounts receivables
$ 7,224.00
$ 7,224.00
Supplies
$ 13,800.00
$ 5,400.00
$ 8,400.00
Prepaid rent
$ 46,200.00
$ 6,600.00
$ 39,600.00
Equipment
$ 54,600.00
$ 54,600.00
Accum Dep - Equipment
$ 1,700.00
$ 1,700.00
Accounts payable
$ -
$ 17,200.00
$ 17,200.00
Ruby Capital
$ -
$ 82,874.00
$ 82,874.00
Ruby Drawings
$ 7,200.00
$ 7,200.00
Fees Income
$ -
$ 91,860.00
$ 91,860.00
Depreciation expense - Equipment
$ -
$ 1,700.00
$ 1,700.00
rent expense
$ -
$ 6,600.00
$ 6,600.00
Salaries expense
$ 16,200.00
$ 16,200.00
Supplies expense
$ -
$ 5,400.00
$ 5,400.00
Utilities expense
$ 960.00
$ 960.00
Totals
$ 1,91,934.00
$ 1,91,934.00
$ 13,700.00
$ 13,700.00
$ 1,93,634.00
$ 1,93,634.00
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