Explore BrainMass

Explore BrainMass

    Month-End Adjusting Entries and Adjusted Trial Balance

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    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
    Cash $22,200
    Accounts Receivable $44,100
    Prepaid Insurance $3,100
    Supplies $800
    Building $412,700
    Accumulated depreciation, building $321,600
    Accounts Payable $1900
    Salary Payable
    Unearned Service Revenue $2,300
    Jane Carlsen, capital $155,000
    Jane Carlsen, withdrawals $2,900
    Service Revenue $7,900
    Salary Expense $2,100
    Insurance Expense
    Depreciation expense, building
    Advertising Expense $800
    Supplies Expense
    Total $488,700 $488,700.

    © BrainMass Inc. brainmass.com October 10, 2019, 5:26 am ad1c9bdddf


    Solution Preview

    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 ...

    Solution Summary

    The solution discusses the month-end adjusting entries and adjusted trial balance.