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Dave's Company

Adjusting Journals

Selected general ledger information for Dave's Company's
October 31 month end is presented below. Journalize the
adjustment that caused the balance in each account to
change.

a) Unearned Fees

8,300 Unadjusted balance
2,300 Adjusted balance

Date Account Titles and Explanation Debit Credit

b) Allowance for Doubtful Accounts

1,750 Unadjusted balance
4,750 Adjusted balance

Date Account Titles and Explanation Debit Credit

c) Prepaid Insurance

Unadjusted balance 14,000
Adjusted balance 6,000

Date Account Titles and Explanation Debit Credit

d) Utilities Expense

Unadjusted balance 27,000
Adjusted balance 32,000

Date Account Titles and Explanation Debit Credit

e) Amortization Expense

Unadjusted balance 0
Adjusted balance 29,000

Date Account Titles and Explanation Debit Credit

f)

What is a difference between a Prepaid Expense and an
Accrued Expense?

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Solution Summary

This solution is comprised of a detailed explanation to journalize the adjustment that caused the balance in each account to
change.

$2.19