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Make the necessary adjusting entries

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Reference no: EM13555547

Joe Hurt owns and operates Rent-a-Wreck Company, a used car rental business. The following is a trial balance before the end of the month adjustments.

Dr. Cr.

Cash 1,940

Accounts Receivable 1,575

Supplies 1,740

Prepaid Rent 2,900

Equipment 16,500

Accounts Payable 1,000

Joe Hurt, Capital 21,650

Joe Hurt, Drawing 2,500

Rental Income 7,125

Salaries Expense 1,800

Utilities Expense 540

Miscellaneous Expense 280

29,775 29,775

Listed below are the end of the month adjustments:

(a) Inventory of supplies at end of month, $975

(b) Rent for the month, $900

(c) Depreciation expense for month, $500

(d) Salaries Payable, $200

Prepare an adjusted trial balance and make the necessary adjusting entries.

Reference no: EM13555547

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