Question prepare the adjusting entries in some instances

Assignment Help Accounting Basics

Reference no: EM13579209

Freeny Corporation adjustment data and the unadjusted trial balance.

Adjustment data:

Unusual supplies on hand, $230

Unexpired rent, $1,000

Depreciation on buildings,$1,500

Depreciation on equipment, $800

Unearned fees still unearned, $740

Salaries earned but not yet paid $740

Accured interest on the note, $240

Fees earned but not recorded and not received, $570

Freeny Corporation unadjusted trial balance March 31, 2010

	Debits	Credits
Cash	$7,280
Accounts receivable	1,700
Supplies	940
Prepaid rent	2,400
Land	52,000
Buildings	94,000
Accumulated depreciation buildings		$16,600
equipment	41,500
Accumulated depreciation equipment		13,500
Accounts payable		3,480
Unearned fees		2,970
Note payable		60,000
Capital stock		45,000
Retained earnings		39,150
Fee revenue		29,300
Salary expense	9,320
Telephone expense	260
Utilities expense	410
Miscellaneous expense	190
Total	$210,000

Question: Prepare the adjusting entries. In some instances, you will need to establish new accounts.

Reference no: EM13579209

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