IronZee Sports
Unadjusted Trial Balance
March 31, 2018

Accounts	Debits	Credits
Cash	3,225
Accounts Receivable	7,110
Supplies	1,200
Prepaid Insurance	540
Office Equipment	54,800
Accumulated Depreciation - Office Equipment		9,500
Accounts Payable		855
Wages Payable		0
Unearned Fees		1,110
M. Zee, Capital		32,400
M. Zee, Drawing	5,400
Fees Earned		59,120
Wages Expense	22,215
Depreciation Expense	0
Rent Expense	4,280
Utilities Expense	2,710
Supplies Expense	0
Insurance Expense	0
Miscellaneous Expense	1,505
Total	Single line102,985Double line	Single line102,985Double line

 

Consider the following data on March 31, 2018, to determine year-end adjustments:

1. Supplies on hand at March 31, 2018, was $350.
2. Insurance premiums expired during the year totaled $320.
3. Depreciation of equipment during the year was $4,800.
4. Wages accrued but not paid as of March 31, 2018, totaled $440.
5. Accrued fees earned but not recorded at March 31, 2018, was $1,100.
6. There was $755 in unearned fees on March 31, 2018.

Journalize, in the correct order, the adjusting entry needed on March 31 for each situation.

Journal

Date	Description	Debit	Credit
March 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
March 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
March 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
March 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
March 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
March 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
March 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
March 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
March 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
March 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
March 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
March 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable

Ashley’s Payroll Services had the following accounts and account balances after adjusting entries. Assume all accounts have normal balances.

Account Name	Account Value
Cash	$23,150
Land	$23,500
Utilities Payable	$720
Accounts Payable	$3,700
Accumulated Depreciation-- Equipment	$1,500
Service Revenue	$89,500
Supplies Expense	$800
Ashley Moore, Drawing	$28,000
Equipment	$25,000
Accounts Receivable	$4,150
Office Supplies	$900
Ashley Moore, Capital	$18,100
Depreciation Expense--Equipment	$1,800
Unearned Revenue	$700
Utilities Expense	$1,720
Salaries Expense	$5,200

 

Prepare the adjusted trial balance for Ashley’s Payroll Services as of December 31, 2016.

Ashley's Payroll Services
Adjusted Trial Balance
For the Year Ending Dec. 31, 2016

Accounts	Debits	Credits
Total	Single lineDouble line	Single lineDouble line