Try another version of these questions Journalize, in the correct order, the adjusting entry needed on October 31 for each situation. Ashley’s Payroll Services had the following accounts and account balances after adjusting entries. Assume all accounts have normal balances. Prepare the adjusted trial balance for Ashley’s Payroll Services as of December 31, 2016.
Unadjusted Trial Balance
October 31, 2018Accounts Debits Credits Cash 3,305 Accounts Receivable 6,875 Supplies 1,245 Prepaid Insurance 560 Office Equipment 51,450 Accumulated Depreciation -
Office Equipment 9,580 Accounts Payable 900 Wages Payable 0 Unearned Fees 875 M. Zee, Capital 29,050 M. Zee, Drawing 5,200 Fees Earned 59,225 Wages Expense 22,415 Depreciation Expense 0 Rent Expense 4,260 Utilities Expense 2,815 Supplies Expense 0 Insurance Expense 0 Miscellaneous Expense 1,505 Total Single line99,630Double line Single line99,630Double line
Date Description Debit Credit October 31 October 31 October 31 October 31 October 31 October 31 October 31 October 31 October 31 October 31 October 31 October 31 Date Description Debit Credit October 31 Supplies Expense 870 October 31 Supplies 870 October 31 Insurance Expense 320 October 31 Prepaid Insurance 320 October 31 Depreciation Expense 4,620 October 31 Accumulated Depreciation - Office Equipment 4,620 October 31 Wages Expense 445 October 31 Wages Payable 445 October 31 Accounts Receivable 1,100 October 31 Fees Earned 1,100 October 31 Unearned Fees 110 October 31 Fees Earned 110 Account Name Account Value Cash $24,100 Land $23,250 Utilities Payable $730 Accounts Payable $3,700 Accumulated Depreciation--
Equipment $1,500 Service Revenue $90,450 Supplies Expense $660 Ashley Moore, Drawing $28,000 Equipment $25,000 Accounts Receivable $4,150 Office Supplies $900 Ashley Moore, Capital $17,850 Depreciation Expense--Equipment $1,800 Unearned Revenue $560 Utilities Expense $1,730 Salaries Expense $5,200
Adjusted Trial Balance
For the Year Ending Dec. 31, 2016Accounts Debits Credits Total Single lineDouble line Single lineDouble line
Adjusted Trial Balance
For the Year Ending Dec. 31, 2016Accounts Debits Credits Cash 24,100 Accounts Receivable 4,150 Office Supplies 900 Land 23,250 Equipment 25,000 Accumulated Depreciation--Equipment 1,500 Accounts Payable 3,700 Utilities Payable 730 Unearned Revenue 560 Ashley Moore, Capital 17,850 Ashley Moore, Drawing 28,000 Service Revenue 90,450 Salaries Expense 5,200 Depreciation Expense--Equipment 1,800 Utilities Expense 1,730 Supplies Expense 660 Total Single line114,790Double line Single line114,790Double line