Reference no: EM132363281
Question
The trial balances before and after adjustments for National parks calendars at the end of its fiscal year are presented below.
National Parks Calendars
Trial Balance
September 31, 2020
Before Adjustment After Adjustment
Dr. Cr. Dr. Cr.
Cash 15,080 15,080
Accounts Receivable 14,960 16,470
Supplies 2,760 975
Prepaid Insurance 5,800 1,270
Equipment 13,300 13,300
Accumulated Depreciation-Equipment 5,220 6,690
Accounts payable 9,860 9,860
Salaries and Wages Payable 5,400
Unearned Service Revenue 2,175 925
Unearned Rent Revenue 2,100 345
Owner's Capital 18,395 18,395
Service Revenue 48,800 51,560
Rent Revenue 1,575 3,330
Salaries and Wages Expense 36,225 41,625
Supplies Expense 1,785
Insurance Expense 4,530
Depreciation Expense 1,470
---------------- ------------ ------------- ------------
$88,125 $88,125 $96,505 $96,505
Prepare the adjusting entries that were made. If not entry is required, select "no entry" for the account titles and enter 0 for the amounts.
Account Tittles and Explanation Debit Credit
Accounts receivable
Service Revenue
(To record service revenue not yet billed to customers)
Suppies Expense
Supplies
(To record supplies Expense)
Insurance Expense
Prepaid Insurance
(To recognize Prepaid Insurance Expense)
Depreciation Expense
Accumulated Depreciation-Equipment
(To record depreciation for the period)
Salaries and Wages Expense
Salaries and Wages Payable
(To record Salaries payable)
Unearned Service Revenue
Service Revenue
(To record Revenue Earn with prior payment)
Unearned Rent Revenue
Rent Revenue
(To record Revenue Earn with prior payment)