See the attached file.
The trial balance of Padre Paradise at December 31, 2008, and the data needed for the month-end adjustments follow:
a. Insurance coverage still remaining at December 31, $300
b. Supplies used during the month, $200
c. Depreciation for the month, $900
d. Accrued advertising expense at December, 31, $300 (Use Accounts Payable as the liability account needed)
e. Accrued salaries at December 31, $100
f. Service revenue still unearned at December 31, $1000
ACCOUNT TITLE Debit Credit
Accounts Receivable $44,100
Prepaid Insurance $3,100
Accumulated depreciation, building $321,600
Accounts Payable $1900
Unearned Service Revenue $2,300
Jane Carlsen, capital $155,000
Jane Carlsen, withdrawals $2,900
Service Revenue $7,900
Salary Expense $2,100
Depreciation expense, building
Advertising Expense $800
Total $488,700 $488,700.
Please see the attached Excel spreadsheet for full solutions.
Date Accounts and Explanations PR Debit Credit
Adjusting entries at December 31, 2008
Dec 31 insurance ...
The solution discusses the month-end adjusting entries and adjusted trial balance.