Accounting
Exercise 3-13
The trial balances before and after adjustment for Frinzi Company at the end of its fiscal year are presented below.
|
FRINZI COMPANY |
||||
|
Before |
After |
|||
|
Dr. |
Cr. |
Dr. |
Cr. |
|
|
Cash |
$10,413 |
$10,413 |
||
|
Accounts Receivable |
8,926 |
9,799 |
||
|
Supplies |
2,321 |
628 |
||
|
Prepaid Insurance |
3,957 |
2,543 |
||
|
Equipment |
12,380 |
12,380 |
||
|
Accumulated Depreciation—Equipment |
$ 3,557 |
$ 4,600 |
||
|
Accounts Payable |
5,840 |
5,840 |
||
|
Salaries and Wages Payable |
0 |
1,432 |
||
|
Unearned Rent Revenue |
1,561 |
797 |
||
|
Owner’s Capital |
13,980 |
13,980 |
||
|
Service Revenue |
33,964 |
34,837 |
||
|
Rent Revenue |
10,845 |
11,609 |
||
|
Salaries and Wages Expense |
16,822 |
18,254 |
||
|
Supplies Expense |
0 |
1,693 |
||
|
Rent Expense |
14,928 |
14,928 |
||
|
Insurance Expense |
0 |
1,414 |
||
|
Depreciation Expense |
0 |
1,043 |
||
|
$69,747 |
$69,747 |
$73,095 |
$73,095 |
Prepare the adjusting entries that were made. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
|
Date |
Account Titles and Explanation |
Debit |
Credit |
|
Aug. 31 |
|
|
|
|
|
|
|
|
|
(To record accrued revenue) |
|||
|
Aug. 31 |
|
|
|
|
|
|
|
|
|
(To record supplies used) |
|||
|
Aug. 31 |
|
|
|
|
|
|
|
|
|
(To record expired insurance) |
|||
|
Aug. 31 |
|
|
|
|
|
|
|
|
|
(To record depreciation) |
|||
|
Aug. 31 |
|
|
|
|
|
|
|
|
|
(To record accrued salaries) |
|||
|
Aug. 31 |
|
|
|
|
|
|
|
|
|
(To record rent earned) |
Exercise 3-13
The trial balances before and after adjustment for Frinzi Company at the end of its fiscal year are presented below.
|
FRINZI COMPANY |
||||
|
Before |
After |
|||
|
Dr. |
Cr. |
Dr. |
Cr. |
|
|
Cash |
$10,413 |
$10,413 |
||
|
Accounts Receivable |
8,926 |
9,799 |
||
|
Supplies |
2,321 |
628 |
||
|
Prepaid Insurance |
3,957 |
2,543 |
||
|
Equipment |
12,380 |
12,380 |
||
|
Accumulated Depreciation—Equipment |
$ 3,557 |
$ 4,600 |
||
|
Accounts Payable |
5,840 |
5,840 |
||
|
Salaries and Wages Payable |
0 |
1,432 |
||
|
Unearned Rent Revenue |
1,561 |
797 |
||
|
Owner’s Capital |
13,980 |
13,980 |
||
|
Service Revenue |
33,964 |
34,837 |
||
|
Rent Revenue |
10,845 |
11,609 |
||
|
Salaries and Wages Expense |
16,822 |
18,254 |
||
|
Supplies Expense |
0 |
1,693 |
||
|
Rent Expense |
14,928 |
14,928 |
||
|
Insurance Expense |
0 |
1,414 |
||
|
Depreciation Expense |
0 |
1,043 |
||
|
$69,747 |
$69,747 |
$73,095 |
$73,095 |
Prepare the adjusting entries that were made. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
|
Date |
Account Titles and Explanation |
Debit |
Credit |
|
Aug. 31 |
|
|
|
|
|
|
|
|
|
(To record accrued revenue) |
|||
|
Aug. 31 |
|
|
|
|
|
|
|
|
|
(To record supplies used) |
|||
|
Aug. 31 |
|
|
|
|
|
|
|
|
|
(To record expired insurance) |
|||
|
Aug. 31 |
|
|
|
|
|
|
|
|
|
(To record depreciation) |
|||
|
Aug. 31 |
|
|
|
|
|
|
|
|
|
(To record accrued salaries) |
|||
|
Aug. 31 |
|
|
|
|
|
|
|
|
|
(To record rent earned) |
