IronZee Sports
Unadjusted Trial Balance
July 31, 2018

Accounts	Debits	Credits
Cash	3,135
Accounts Receivable	7,120
Supplies	1,270
Prepaid Insurance	650
Office Equipment	48,150
Accumulated Depreciation - Office Equipment		9,410
Accounts Payable		925
Wages Payable		0
Unearned Fees		1,120
M. Zee, Capital		25,750
M. Zee, Drawing	5,080
Fees Earned		59,190
Wages Expense	22,535
Depreciation Expense	0
Rent Expense	4,170
Utilities Expense	2,780
Supplies Expense	0
Insurance Expense	0
Miscellaneous Expense	1,505
Total	Single line96,395Double line	Single line96,395Double line

 

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

1. Supplies on hand at July 31, 2018, was $385.
2. Insurance premiums expired during the year totaled $310.
3. Depreciation of equipment during the year was $4,530.
4. Wages accrued but not paid as of July 31, 2018, totaled $500.
5. Accrued fees earned but not recorded at July 31, 2018, was $900.
6. There was $700 in unearned fees on July 31, 2018.

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

Journal

Date	Description	Debit	Credit
July 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
July 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
July 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
July 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
July 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
July 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
July 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
July 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
July 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
July 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
July 31	Accounts PayableAccounts ReceivableAccumulated Depreciation - Office EquipmentCashDepreciation ExpenseFees EarnedInsurance ExpenseM. Zee, CapitalM. Zee, DrawingMiscellaneous ExpenseOffice EquipmentPrepaid InsuranceRent ExpenseSuppliesSupplies ExpenseUnearned FeesUtilities ExpenseWages ExpenseWages Payable
July 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	$23,700
Utilities Payable	$610
Accounts Payable	$3,850
Accumulated Depreciation-- Equipment	$1,500
Service Revenue	$89,500
Supplies Expense	$600
Ashley Moore, Drawing	$28,000
Equipment	$25,000
Accounts Receivable	$4,300
Office Supplies	$900
Ashley Moore, Capital	$18,300
Depreciation Expense--Equipment	$1,800
Unearned Revenue	$500
Utilities Expense	$1,610
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