Masasi’s Trial Balance

hand storying Adjusting Entries, Posting and Preparing an Adjusted streak sense of equilibrium MASASI COMPANY, INC. discharge equilibrize June 30, 2008 Account Number debit doctrine one hundred one cash $ 7,150 112 Accounts Receivable 6,000 126 Supplies 2,000 130 prepay amends 3,000 157 self-assurance Equipment 15,000 201 Accounts Payable $ 4,500 209 honorary service of process revenue enhancement 4,000 311 viridity source 21,750 400 serving taxation 7,900 726 Salaries outgo 4,000 729 Rent write down 1,000 join $38,150 Total $38,150 In addition to those accounts listed on the foot race balance, the chart of accounts for Masasi Company,Inc. lso contains the following accounts and account numbers racket none 158 accrued Depreciation magnate Equipment, No. 212 Salaries Payable,No. 244 Utilities Payable, No. 631 Supplies disbursement,No. 711 Depreciation write down, No. 722 Insurance spending, and No. 732 Utilities expense. Other info 1. Supplies on hand at June 30 are $600. 2. A utility bill for $150 has not been recorded and allow not be paid until side by side(p) month. 3. The insurance policy is for a year. 4. $2,500 of unearned service revenue has been earned at the end of the month. 5. Salaries of $2,000 are accrued at June 30. 6.The office equipment has a 5-year life with no salvage value. It is being depreciated at $250 per month for 60 months. 7. Invoices representing $1,000 of services performed during the month wealthy person not been recorded as of June 30. instruction manual (a) Prepare the adjusting entries for the month of June. Use J3 as the page number for your journal. (b) Post the adjusting entries to the rule book accounts. Enter the totals from the running balance as beginning account balances and place a check mark in the beak reference column. (c) Prepare an adjusted trial balance at June 30, 2008. Use the templates in Appendix D.Complete all three tabs. (a) J3 take care Account Titles and report Ref. deb it consultation 2008 June 30 Supplies spending 631 1,400 Supplies 126 ? ,400 ?? ($2,000 $600) 30 Utilities Expense 732 ? 50 Utilities Payable 244 ? 150 30 Insurance Expense 722 ? 50 postpaid Insurance 130 ? 250 ?? ($3,000 ? 12 months) 30 unearned Service Revenue 209 2,500 Service Revenue 400 2,500 30 Salaries Expense 726 2,000 Salaries Payable 212 2,000 30 Depreciation Expense 711 ? 250 Accumulated Depreciation ?? obligation Equipment 158 ? 250 ?? ($15,000 ? 0 months) 30 Accounts Receivable 112 1,000 Service Revenue 400 1,000 (b) CashNo. 101 leave business relationship Ref. debit entry recognition sense of equilibrium 2008 June 30 proportion ? 7,150 Accounts ReceivableNo. 112 run into business relationship Ref. calculate acknowledgeme nt ratio 2008 June 30 repose ? ? 6,000 30 Adjusting J3 1,000 ? 7,000 SuppliesNo. 126 duration business relationship Ref. debit impute balance wheel 2008 June 30 Balance ? ? 2,000 30 Adjusting J3 1,400 ? 600 Prepaid InsuranceNo. 130 Date business relationship Ref. debit entry Credit Balance 2008 June 30 Balance ? ? ,000 30 Adjusting J3 250 ? 2,750 Office EquipmentNo. 157 Date Explanation Ref. Debit Credit Balance 2008 June 30 Balance ? 15,000 Accumulated DepreciationOffice EquipmentNo. 158 Date Explanation Ref. Debit Credit Balance 2008 June 30 Adjusting J3 250 ?? 250 Accounts PayableNo. 201 Date Explanation Ref. Debit Credit Balance 2008 June 30 Balance ? ? 4,500 Unearned Service RevenueNo. 209 Date Explanation Ref. Debit Credit Balance 2008 June 30 Balance ? ? 4,000 30 Adjusting J3 2,5 00 ? 1,500 Salaries PayableNo. 212 Date Explanation Ref. Debit Credit Balance 2008 June 30 Adjusting J3 2,000 2,000 Utilities PayableNo. 244 Date Explanation Ref. Debit Credit Balance 2008 June 30 Adjusting J3 ? 150 ?? 150 cat valium StockNo. 311 Date Explanation Ref. Debit Credit Balance 2008 June 30 Balance ? 21,750 Service RevenueNo. 400 Date Explanation Ref. Debit Credit Balance 2008 June 30 Balance ? ? 7,900 30 Adjusting J3 2,500 10,400 30 Adjusting J3 1,000 11,400 Supplies ExpenseNo. 631 Date Explanation Ref. Debit Credit Balance 2008 June 30 Adjusting J3 1,400 1,400 Depreciation ExpenseNo. 711 Date Explanation Ref. Debit Credit Balance 2008 June 30 Adjusting J3 250 ? 250 Insurance ExpenseNo. 722 Date Explanation Ref. Debit Credit Balance 2008 June 30 Adjusting J3 250 ? 250 Salaries ExpenseNo. 72 6 Date Explanation Ref. Debit Credit Balance 2008 June 30 Balance ? ? ,000 30 Adjusting J3 2,000 ? 6,000 Rent ExpenseNo. 729 Date Explanation Ref. Debit Credit Balance 2008 June 30 Balance ? 1,000 Utilities ExpenseNo. 732 Date Explanation Ref. Debit Credit Balance 2008 June 30 Adjusting J3 150 ? 150 (c)MASASI COMPANY, INC. Adjusted Trial Balance June 30, 2008 Debit Credit Cash $? 7,150 Accounts Receivable ?? ,000 Supplies 600 Prepaid Insurance ?? 2,750 Office Equipment ? 15,000 Accumulated DepreciationOffice ?? Equipment $?? 50 Accounts Payable ?? 4,500 Unearned Service Revenue 1,500 Salaries Payable ?? 2,000 Utilities Payable ?? 150 Common Stock ? 1,750 Service Revenue ? 11,400 Supplies Expense 1,400 Depreciation Expense ??? 250 Insurance Expense ??? 250 Salaries Expense ?? ,000 Rent Expense ?? 1,000 Utilities Expense ? ?? 150 $41,550 $41,550 http//www. google. com. vn/url? sa=t&038rct=j&038q=&038esrc=s&038source=web&038cd=16&038ved=0CGEQFjAFOAo&038url=http%3A%2F%2Fww2. justanswer. com%2Fuploads%2FBusinessTutor%2F2010-01-13_004112_P3-2A. doc&038ei=veS2UK-uBuahigf5iIGgAw&038usg=AFQjCNGG338kPyI9kNi9KfLTWh4V2fYbfg&038 hound dog=rja