Reference no: EM131240274
The trial balance of Seashell Restaurant at December 31, 2010, and the data needed for the month-end adjustments follow:
Adjustment data at December 31:
a. Prepaid insurance still in force,$400
b. Supplies used during the month,$600
c. Depreciation for the month,$1,500
d. Accrued salary expense, $100
e. Unearned service revenue still unearned,$1,400
Seashell Restaurant
Trial Balance
December 31, 2010
Account Debit Credit
Cash 12,100
Accounts Receivable 14,500
Prepaid insurance 2,800
Supplies 1,300
Building 392,000
Accumulated Depreciation 307,500
Accounts payable 1,910
Salary payable
Unearned Service Revenue 3,000
W Thompson, Capital 100,700
W Thompson, Withdrawals 2,870
Service Revenue 15,300
Salary Expense 2,100
Insurance expense
Depreciation expense
Advertising expense 830
Supplies expense
428,500 428,500
1. Journalize the adjusting entries.
2. Post the adjusting entries to the ledger accounts.
3. Prepare the adjusted trial balance.
4. Prepare the income statement, statement of owner's equity and balance sheet for the business for the month ended December 31, 2010. (There were no owner investments for the accounting period.)
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