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IronZee Sports
Unadjusted Trial Balance
October 31, 2018
AccountsDebitsCredits
Cash3,305
Accounts Receivable6,875
Supplies1,245
Prepaid Insurance560
Office Equipment51,450
Accumulated Depreciation - Office Equipment9,580
Accounts Payable900
Wages Payable0
Unearned Fees875
M. Zee, Capital29,050
M. Zee, Drawing5,200
Fees Earned59,225
Wages Expense22,415
Depreciation Expense0
Rent Expense4,260
Utilities Expense2,815
Supplies Expense0
Insurance Expense0
Miscellaneous Expense1,505
TotalSingle line99,630Double lineSingle line99,630Double line

 

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

  1. Supplies on hand at October 31, 2018, was $375.
  2. Insurance premiums expired during the year totaled $320.
  3. Depreciation of equipment during the year was $4,620.
  4. Wages accrued but not paid as of October 31, 2018, totaled $445.
  5. Accrued fees earned but not recorded at October 31, 2018, was $1,100.
  6. There was $765 in unearned fees on October 31, 2018.

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

Journal
DateDescriptionDebitCredit
October 31
October 31
October 31
October 31
October 31
October 31
October 31
October 31
October 31
October 31
October 31
October 31


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

Account NameAccount 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

 

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
AccountsDebitsCredits
TotalSingle lineDouble lineSingle lineDouble line