IronZee Sports
Unadjusted Trial Balance
July 31, 2018

Accounts	Debits	Credits
Cash	3,435
Accounts Receivable	7,125
Supplies	1,175
Prepaid Insurance	590
Office Equipment	52,000
Accumulated Depreciation - Office Equipment		9,710
Accounts Payable		830
Wages Payable		0
Unearned Fees		1,125
M. Zee, Capital		29,600
M. Zee, Drawing	5,135
Fees Earned		59,100
Wages Expense	22,480
Depreciation Expense	0
Rent Expense	4,230
Utilities Expense	2,690
Supplies Expense	0
Insurance Expense	0
Miscellaneous Expense	1,505
Total	Single line100,365Double line	Single line100,365Double line

 

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

1. Supplies on hand at July 31, 2018, was $375.
2. Insurance premiums expired during the year totaled $330.
3. Depreciation of equipment during the year was $4,900.
4. Wages accrued but not paid as of July 31, 2018, totaled $490.
5. Accrued fees earned but not recorded at July 31, 2018, was $1,100.
6. There was $720 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	$23,200
Land	$24,500
Utilities Payable	$720
Accounts Payable	$3,650
Accumulated Depreciation-- Equipment	$1,500
Service Revenue	$89,550
Supplies Expense	$670
Ashley Moore, Drawing	$28,000
Equipment	$25,000
Accounts Receivable	$4,100
Office Supplies	$900
Ashley Moore, Capital	$19,100
Depreciation Expense--Equipment	$1,800
Unearned Revenue	$570
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