Help walk through the steps pg 163 chapter 3 problem e3-29 e. Unearned revenue e
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Help walk through the steps pg 163 chapter 3 problem e3-29
e. Unearned revenue earned, $1,000 r. Offee supplies used, $150 Requirements 1. Joumalire the adjusting cntries needed on July 31,201R 2. Suppose the adjustments made in Requirement I were not made. Compute the overall owerstarement or understatement of net income as a result of the omissiots of these adljustments E3-29 Using the worksheet to record the adjusting journal entries Learn The worksheet of Best Jobs Eimployment Service follows but is incomple EST JORS T SERVICE April 30, 2018 Unadjusted Trial Balance Adjusted Trial Balance it! Debit 1-Credit Debit -Crt _ 7 Cash 5 1.100 1,100 1.200 32,700 Accounts Receivable 9 Office Supplies 10 Equipment 1 Accumulated Depreciation-Equipment $ 13,900 2 Salaries Payable 13 Kubota, Capital 25,200 14 Kubota, Withdrawals 5,300 9,0D0 15 Service Revenue 16 Salaries Expense 2,200 1,500 17 Rent Expense 18 Depreciation Expense -Equipment 19 Supplies Expense 20 Total S 48,100 S 48,100 The following data at April 30, 2018, are given for Best Jobs Employment Service: a. Service revenue accrued, $700. b. Office supplies used, $300 c. Depreciation on equipment, $1,300 d. Salaries owed to employees, $1,400. Requirements Calculate and enter the adjustment amounts directly in the Adjustments columns. Use letters a through d to label the four adjustments 1. 2. Calculate and enter the adjusted account balances in the Adjusted Trial Balance columns 3. Prepare each adjusting journal entry calculated in Requirement 1. Date the entri and include explanations.Explanation / Answer
Solution 1&2:
Solution 3:
Best Job Employee Service Worksheet 30-Apr-18 Account Balances Unadjusted Trial Balance Adjustments Adjusted Trial Balance Debit Credit Debit Credit Debit Credit Cash $1,100.00 $1,100.00 Accounts Receivables $4,100.00 $700.00 a $4,800.00 Office Supplies $1,200.00 b $300.00 $900.00 Equipment $32,700.00 $32,700.00 Accumulated Depreciation - Equipment $13,900.00 c $1,300.00 $15,200.00 Salaries Payable d $1,400.00 $1,400.00 Kubota Capital $25,200.00 $25,200.00 Kubota Withdrawls $5,300.00 $5,300.00 Service Revenue $9,000.00 a $700.00 $9,700.00 Salaries Expense $2,200.00 $1,400.00 d $3,600.00 Rent Expense $1,500.00 $1,500.00 Depreciation Expense - Equipment $1,300.00 c $1,300.00 Supplies Expense $300.00 b $300.00 Total $48,100.00 $48,100.00 $3,700.00 $3,700.00 $51,500.00 $51,500.00Related Questions
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