IronZee Sports
Unadjusted Trial Balance
March 31, 2018

Accounts	Debits	Credits
Cash	3,075
Accounts Receivable	7,180
Supplies	1,280
Prepaid Insurance	545
Office Equipment	54,050
Accumulated Depreciation - Office Equipment		9,350
Accounts Payable		935
Wages Payable		0
Unearned Fees		1,180
M. Zee, Capital		31,650
M. Zee, Drawing	5,155
Fees Earned		59,210
Wages Expense	22,460
Depreciation Expense	0
Rent Expense	4,275
Utilities Expense	2,800
Supplies Expense	0
Insurance Expense	0
Miscellaneous Expense	1,505
Total	Single line102,325Double line	Single line102,325Double line

 

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

1. Supplies on hand at March 31, 2018, was $395.
2. Insurance premiums expired during the year totaled $325.
3. Depreciation of equipment during the year was $4,550.
4. Wages accrued but not paid as of March 31, 2018, totaled $465.
5. Accrued fees earned but not recorded at March 31, 2018, was $900.
6. There was $800 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	$23,850
Land	$23,750
Utilities Payable	$370
Accounts Payable	$3,600
Accumulated Depreciation-- Equipment	$1,500
Service Revenue	$90,200
Supplies Expense	$780
Ashley Moore, Drawing	$28,000
Equipment	$25,000
Accounts Receivable	$4,050
Office Supplies	$900
Ashley Moore, Capital	$18,350
Depreciation Expense--Equipment	$1,800
Unearned Revenue	$680
Utilities Expense	$1,370
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