1. Pedroni Fuel Company is a small oil services company owned and operated by Ray Zorzi. On October 31, 2019 the end of the current year, Pedroni Company's accounting derk prepared the following unadjusted trial balance Pedroni Fuel Company Unadjusted Trial Balance October 31, 2019 Debit 7,500 38,400 7,200 1,980 112,500 300,250 Credit Cash Accounts Receivable Prepaid Insurance Supplies Land Building Accumulated Depreciation - Building Equipment Accumulated Depreciation - Equipment Accounts Payable Uneamed Rent Ray Zorzi - Capital Ray Zorzi - Drawing Fee's Earned Salary & Wages Expense Utilities Expense Advertising Expense Repairs Expense Miscellaneous Expense 87,550 135,300 97,950 12,150 6,750 371,000 15,000 324,600 193,370 42,375 22,800 17,250 6,075 900,000 Total 900,000 Year End Adjustment Unexpired insurance at October 31 = $600 Supplies on hand on October 31 - $675 Depreciation of Building for the year $12,000 Uneaned Rent on October 31 -$2,250 Accrued Salary and Wages at October 31 = $2,800 Fees eamed but unbilled on October 31 = $10,050 Instructions: Journalize the adjusting entries using the following additional accounts: Salaries & Wages Payable, Rent Revenue, Insurance Expense, Depreciation Expense- Building, Depreciation Expense - Equipment, and Supplies Expense.
1. Pedroni Fuel Company is a small oil services company owned and operated by Ray Zorzi. On October 31, 2019 the end of the current year, Pedroni Company's accounting derk prepared the following unadjusted trial balance Pedroni Fuel Company Unadjusted Trial Balance October 31, 2019 Debit 7,500 38,400 7,200 1,980 112,500 300,250 Credit Cash Accounts Receivable Prepaid Insurance Supplies Land Building Accumulated Depreciation - Building Equipment Accumulated Depreciation - Equipment Accounts Payable Uneamed Rent Ray Zorzi - Capital Ray Zorzi - Drawing Fee's Earned Salary & Wages Expense Utilities Expense Advertising Expense Repairs Expense Miscellaneous Expense 87,550 135,300 97,950 12,150 6,750 371,000 15,000 324,600 193,370 42,375 22,800 17,250 6,075 900,000 Total 900,000 Year End Adjustment Unexpired insurance at October 31 = $600 Supplies on hand on October 31 - $675 Depreciation of Building for the year $12,000 Uneaned Rent on October 31 -$2,250 Accrued Salary and Wages at October 31 = $2,800 Fees eamed but unbilled on October 31 = $10,050 Instructions: Journalize the adjusting entries using the following additional accounts: Salaries & Wages Payable, Rent Revenue, Insurance Expense, Depreciation Expense- Building, Depreciation Expense - Equipment, and Supplies Expense.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter1: Accounting And The Financial Statements
Section: Chapter Questions
Problem 46E: OBJECTIVE 6 Exercise 1-46 Income Statement ERS Inc. maintains and repairs office equipment. ERS had...
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