Jordon James started JJJ Consulting on January 1. The following are the account balances at the end of the first month of business, before adjusting entries were recorded: Accounts Payable $300 Accounts Receivable 750 Cash 6,300 Consulting Revenue 4,925 Equipment 7,000 Owner's Capital 15,000 Owner's Drawing 1,375 Prepaid Rent 4,000 Supplies 800 Adjustment data: 1. Supplies on hand at the end of the month, $200 2. Unbilled consulting revenue, $700 3. Rent expense for the month, $1,000 4. Depreciation on equipment, $90 (a) Prepare the required adjusting entries, adding accounts as needed. 1. 4. (b) Prepare an adjusted trial balance for JJJ Consulting as of January 31. If an amount box does not require an entry, leave it blank. JJJ Consulting Adjusted Trial Balance January 31 Accounts Debit Balances Credit Balances 2. 3.
Jordon James started JJJ Consulting on January 1. The following are the account balances at the end of the first month of business, before adjusting entries were recorded: Accounts Payable $300 Accounts Receivable 750 Cash 6,300 Consulting Revenue 4,925 Equipment 7,000 Owner's Capital 15,000 Owner's Drawing 1,375 Prepaid Rent 4,000 Supplies 800 Adjustment data: 1. Supplies on hand at the end of the month, $200 2. Unbilled consulting revenue, $700 3. Rent expense for the month, $1,000 4. Depreciation on equipment, $90 (a) Prepare the required adjusting entries, adding accounts as needed. 1. 4. (b) Prepare an adjusted trial balance for JJJ Consulting as of January 31. If an amount box does not require an entry, leave it blank. JJJ Consulting Adjusted Trial Balance January 31 Accounts Debit Balances Credit Balances 2. 3.
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 9EA: Prepare journal entries to record the following business transaction and related adjusting entry. A....
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