Prepare an adjusted trial balance from the following account information, considering the adjustment data provided (assume accounts have normal balances). Equipment was recently purchased, so there is neither depreciation expense nor accumulated depreciation. Adjustments needed: Salaries due to employees, but unpaid at the end of the period, $2,000 Insurance still unexpired at end of the period, $12,000

Question

Prepare an adjusted trial balance from the following account information, considering the adjustment data provided (assume accounts have normal balances). Equipment was recently purchased, so there is neither depreciation expense nor accumulated depreciation.

Adjustments needed:

  • Salaries due to employees, but unpaid at the end of the period, $2,000
  • Insurance still unexpired at end of the period, $12,000

 

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Trial Balance and Adjustement Entries

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