Journal Entry Problem #8 Financial Accounting Principles II 20 points The trial

Question

Journal Entry Problem #8 Financial Accounting Principles II 20 points The trial balance of A. Duck Ponds, Inc., at December 31, 20xx, and the data needed for the year-end adjustments follow. (Round all results to the nearest whole dollar amount.) Unearned revenue, customer deposits still unearned at December 31, $7,750. a. Duck Ponds, Inc. Trial Balance December 31, 20xX Account Title edi $16,800 41,560 100 1,290 5,900 111,130 15,350 Cash Accounts receivable Allowance for doubtful accounts Prepaid rent Supplies Investments Furniture Accumulated depreciation- 12,800 furniture Equipment 44,600 Accumulated depreciation- 1,830 equipment Building 89,900 28,600 Accumulated depreciation- building Accounts payable 6,240 8,900 150,000 Unearned revenue, customer deposits Bonds payable Premium of bonds payable Common stock Retained earnings Dividends Revenue Salary expense Rent expense Utilities expense 4,000 20,000 54,920 4,800 128,800 51,600 5,000 10,410 Depreciation expense-furniture 0 Depreciation expense-equipment Depreciation expense-building Advertising expense Supplies expense Bad debts expense Interest expense 5,650 12,000 Total $416,090 $416,090

Explanation / Answer

Journal Entry Date Particulars Dr. Amt. Cr. Amt. 1 Unearned Revenue, Customer Deposits               Dr.    1,150.00 $8,900 - $7,750    To Revenue    1,150.00 (Record the adjusting entry for Unearned Revenue)

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