nment CALCULATOR ALENA CO Trial Balance September 30, 2017 Adjusted Unadjusted D

Question

nment CALCULATOR ALENA CO Trial Balance September 30, 2017 Adjusted Unadjusted Dr. 8,600 10,300 1,500 2,150 18,500 Cr. Dr. Cr. Cash Accounts Receivable Supplies 8,600 11,600 700 1,200 18,500 Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Salaries and Wages Payable Interest Payable Unearned Rent Revenue Owner's Capital $700 10,000 2,550 2,550 1,950 21,500 1,100 21,500 owner's Drawings 1,650 1,650 Service Revenue 16,290 17,590 2,270 1,420 Salaries and Wages Expense 7,600 1,950 8,350 2,900 Deprecdiation Expense All Rights Reserved. A Division of

Explanation / Answer

Adjusting Entries: 1 Accounts recceivable Dr. 1300      Service revenue 1300 2 Rent expense Dr. 950      Prepaid rent 950 3 Supplies expense Dr. 800      Supplies 800 4 Depreciation expense Dr. 700      Accumulated Depreciation 700 5 Interest expense Dr. 100      Interest payable 100 6 Unearned rent revenue dr. 850      Rent revenue 850 7 Salaries and Wages expense Dr. 750       Salaries and wages payable 750 STATEMENT OF INCOME Amount $ Revenue Service revenue 17,590 Rent revenue 2,270 Total Revenue 19,860 Less: Operating expense    salaries and wages expense 8,350 Rent expense 2,900 Depreciation expense 700 Supplies expense 800 Utilities expense 1,460 Interest expense 100 Total Operating expense 14,310 Net Income Earned 5,550 STATEMENT OF OWNER'S EQUITY Amount $ Beginning Balance 21,500 Add: Net income earned 5,550 27,050 Less: Drawings 1,650 Ending Capital 25,400 BALANCE SHEET Amount $ ASSETS: Current Assets: Cash 8,600 Accounts Receivable 11600 Supplies 700 Prepaid rent 1200 Fixed Assets: Equipment 18,500 Less: Accumulated Dep 700 17,800 TOTAL ASSETS 39,900 LIABILITIES: Current Liabilities: Accounts payable 2550 Notes payable 10000 salaries and wages payable 750 Interest payable 100 Unearned rent revenue 1,100 Total liabilities 14,500 Owner equity: Owners equity 25,400 TOTAL LIABILITIES & EQUITY 39,900

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