Prepare an adjusted trial balance. How will the company use it?
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The trial balance of a company dec31st, 2005 and the data needed for the month-end adjustment follows:
Adjusted data:
a- Prepaid insurance still enforce at Dec 31st $600.00
b- Supplies used during the month: $600.00
c- Depreciation for the month: $ 900.00
d- Accrued advertising expense at dec31st: $300.00(credit account payable)
e- Accrued salary expense at dec31st: $100.00
f- Unearned service revenue still unearned at Dec 31st: $1100.00
TRIAL BALANCE DEC 31ST, 2005
Cash $12,200.00
Account receivable $14,100.00
Prepaid insurance $3,100.00
Supplies $800.00
Building $412,700.00
Accumulated depreciation $311,600.00
Account payable $1,900.00
Salary payable 0
Unearned service revenue $2,300.00
Capital $125,000.00
Withdrawals $2,900.00
Service revenue $7,900.00
Salary expense $2,100.00
Insurance
Depreciation
Advertising expense $800.00
Supplies expense
Total $448,700 $448,700.00
Prepare adjusted trial balance. How will the company use the adjusted trial balance?
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Solution Summary
The expert prepares an adjusted trial balance company. Supplies used during the month are determined.
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