List revenue and expense amounts for the period

Assignment Help Financial Accounting

Reference no: EM132806416

The following are account balances of Graham Corpora on:

Account Title Amount in Balance Unadjusted and Trial Balance Adjustment

Interest Receivable $ -0- $110

Prepaid Insurance 1,800 600

Interest Payable -0- 90

Salaries Payable -0- 450

Unearned Rent 700 200

Required:

Problem a. Enter the unadjusted balance for each account in the following T-accounts: Interest Receivable,

Prepaid Insurance, Interest Payable, Salaries Payable, Unearned Rent, Interest Earned,

Rent Earned, Insurance Expense, Interest Expense, and Salaries Expense.

Problem b. Reconstruct the adjusting entry that must have been recorded for each account.

Problem c. Post these adjus ng entries and agree ending balances in each T-account to the adjusted balances above.

Problem d. List revenue and expense amounts for the period.

Reference no: EM132806416

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