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Prepare an adjusted trial balance on August 31, 2023.  Date Account Debit Credit 31-Aug Prepaid Insurance  900           Insurance Expense   900         31-Aug Supplies Expense  350           Supplies    350         31-Aug Depreciation Expense  1,500          Accumulated Depreciation-Building   1,500         31-Aug Depreciation Expense  500          Accumulated Depreciation-Furniture   500         31-Aug Depreciation Expense  1,000          Accumulated Depreciation-Equipment   1,000         31-Aug Interest Expense  250          Interest Payabl   250         31-Aug Unearned Commission Revenue  750          Earned Commission Revenue   750         31-Aug Unearned Subscription Revenue 2,000           Earned Subsciption Revenue   2,000         31-Aug Salaries Expense  325           Salaries Payable   325

Prepare an adjusted trial balance on August 31, 2023.  Date Account Debit Credit 31-Aug Prepaid Insurance  900           Insurance Expense   900         31-Aug Supplies Expense  350           Supplies    350         31-Aug Depreciation Expense  1,500          Accumulated Depreciation-Building   1,500         31-Aug Depreciation Expense  500          Accumulated Depreciation-Furniture   500         31-Aug Depreciation Expense  1,000          Accumulated Depreciation-Equipment   1,000         31-Aug Interest Expense  250          Interest Payabl   250         31-Aug Unearned Commission Revenue  750          Earned Commission Revenue   750         31-Aug Unearned Subscription Revenue 2,000           Earned Subsciption Revenue   2,000         31-Aug Salaries Expense  325           Salaries Payable   325

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Prepare an adjusted trial balance on August 31, 2023. 

Date Account Debit Credit
31-Aug Prepaid Insurance  900  
        Insurance Expense   900
       
31-Aug Supplies Expense  350  
        Supplies    350
       
31-Aug Depreciation Expense  1,500  
       Accumulated Depreciation-Building   1,500
       
31-Aug Depreciation Expense  500  
       Accumulated Depreciation-Furniture   500
       
31-Aug Depreciation Expense  1,000  
       Accumulated Depreciation-Equipment   1,000
       
31-Aug Interest Expense  250  
       Interest Payabl   250
       
31-Aug Unearned Commission Revenue  750  
       Earned Commission Revenue   750
       
31-Aug Unearned Subscription Revenue 2,000  
        Earned Subsciption Revenue   2,000
       
31-Aug Salaries Expense  325  
        Salaries Payable   325
Cash 15,000 Accounts Receiveable 3,100 Prepaid Insurance 900 Supplies Land 2,500 20,000 Building 75,000 3100 900 350 2150 20000 75000 Furniture 5,000 Equipment 20,000 Accumulated Dep. - Bldg. 1500 20000 500 Accumulated Dep.- Furniture 500 1500 1000 Accumulated Dep. - Equipment 1000 Accounts Payable Interest Payable 250 Salaries Payable 325 750 450 Unearned Commission Revenues 1,200 2000 4,400 Bank Loan Long Term 250 Unearned Subscriptions Revenues 57,600 325 800 1200 57,600 Share Capital Retained Earnings Income Summary 66,600 Commissions Earned 38650 Subscription Revenue 34,700 Advertising Expense 4,300 37,900 750 32,700 2,000 Depreciation Expense - Building Depreciation Expense -Furniture 1000 Depreciation Expense -Equipment 1000 Insurance Expense 900 Interest Expense 2,365 250 Salaries Expense 33,475 325 Supplies Expense 15,800 350 Utilities Expense 2,860 900 2615 33800 16,150 2,860
Transcribed Image Text:Cash 15,000 Accounts Receiveable 3,100 Prepaid Insurance 900 Supplies Land 2,500 20,000 Building 75,000 3100 900 350 2150 20000 75000 Furniture 5,000 Equipment 20,000 Accumulated Dep. - Bldg. 1500 20000 500 Accumulated Dep.- Furniture 500 1500 1000 Accumulated Dep. - Equipment 1000 Accounts Payable Interest Payable 250 Salaries Payable 325 750 450 Unearned Commission Revenues 1,200 2000 4,400 Bank Loan Long Term 250 Unearned Subscriptions Revenues 57,600 325 800 1200 57,600 Share Capital Retained Earnings Income Summary 66,600 Commissions Earned 38650 Subscription Revenue 34,700 Advertising Expense 4,300 37,900 750 32,700 2,000 Depreciation Expense - Building Depreciation Expense -Furniture 1000 Depreciation Expense -Equipment 1000 Insurance Expense 900 Interest Expense 2,365 250 Salaries Expense 33,475 325 Supplies Expense 15,800 350 Utilities Expense 2,860 900 2615 33800 16,150 2,860
Account Type Cash Accounts Receivable Prepaid Insurance Supplies Land Building Furniture Equipment Accumulated Depreciation - Building Accumulated Depreciation - Equipment Accumulated Depreciation - Furniture Accounts Payable Salaries Payable Interest Payable Unearned Commissions Revenue Unearned Subscriptions Revenue Bank Loan Share Capital Retained Earnings Income Summary Commissions Earned Subscriptions Revenue Advertising Expense Depreciation Expense - Building Depreciation Expense- Equipment Depreciation Expense - Furniture Insurance Expense Interest Expense Salaries Expense Supplies Expense Utilities Expense Totals Debits $15,000 3,100 -0- 2,500 20,000 75,000 5,000 20,000 4,300 -0- -0- -0- 1,800 2,365 33,475 15,800 2,860 $205,500 Credits $ -0- -0- -0- 4,400 -0- -0- 1,200 800 57,600 66,600 -0- -0- 37,900 32,700 $205,500
Transcribed Image Text:Account Type Cash Accounts Receivable Prepaid Insurance Supplies Land Building Furniture Equipment Accumulated Depreciation - Building Accumulated Depreciation - Equipment Accumulated Depreciation - Furniture Accounts Payable Salaries Payable Interest Payable Unearned Commissions Revenue Unearned Subscriptions Revenue Bank Loan Share Capital Retained Earnings Income Summary Commissions Earned Subscriptions Revenue Advertising Expense Depreciation Expense - Building Depreciation Expense- Equipment Depreciation Expense - Furniture Insurance Expense Interest Expense Salaries Expense Supplies Expense Utilities Expense Totals Debits $15,000 3,100 -0- 2,500 20,000 75,000 5,000 20,000 4,300 -0- -0- -0- 1,800 2,365 33,475 15,800 2,860 $205,500 Credits $ -0- -0- -0- 4,400 -0- -0- 1,200 800 57,600 66,600 -0- -0- 37,900 32,700 $205,500
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