Make tabular summary to record adjustments for the items

Assignment Help Financial Accounting

Reference no: EM132637063

Assets=Liabilities+Stockholders' Equity+Accts.Rec.+Supplies+Prepd.Insur.+Equip.-Acc. Depr.-

The unadjusted trial balance for Sarasota Corp. is shown below.

Cash

Equip.Notes Pay.

Accts.

Pay.+Int.

Pay.+

Unearned

Serv. Rev.

Sal. & Wages

Pay.

Com.

Stock

+Reatined Earnings=

+Rev.

-Exp.

-DivBal.15,14003,0106605,17005,1702,53001,260010,51013,470-8,420-540

Assume the following adjustment data.

Supplies on hand at October 31 total $580.
Expired insurance for the month is $110.
Depreciation for the month is $115.
As of October 31, services worth $930 related to the previously recorded unearned revenue had been performed.
Services performed but unbilled (and no receivable has been recorded) at October 31 are $340.
Interest expense accrued at October 31 is $80.
Accrued salaries at October 31 are $1,575.

Problem 1: tabular summary to record adjustments for the items above using the summary that follows. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

Reference no: EM132637063

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