Question

The trial balance of Weaver cleaners on Decembre 31 is as follows : Cash $ 21400, account receivable $4200, office supplies $2700, cleaning supplies $9800, prepaid insurance $3600, cleaning equipment $77000, acc. depreciation cleaning equipment $45000, office equipment $17000, acc.depreciation office equipment $6000, account payable $23900, A.Weaver, capital $57500, A. Weaver withdrawals $30000, dry cleaning revenues $81900, laundry revenues $23400, advertising expense $13900, salary expense $29400, rent expense $18000, utilities expenses $10200, miscellaneous $500. Total $237700. The trial balance includes the September 1 prepayment of $3600 for a one year insurance policy beginning September 1. calculate from September through December 31. Accrued salaries $550, office supplies on hand 12/31 $950, current depreciation on cleaning equipment $15000, current depreciation on office equipment $2000, Cleaning supplies used during the year $7400 . how to do the adjustments?

Answer 1

Adjusting Entries
Date	General Journal	Debit	Credit
31-Dec	Insurance expense	$    1,200.00
	Prepaid Insurance		$    1,200.00
	(To record insurance expired)
31-Dec	Salaries Expense	$        550.00
	Salaries Payable		$        550.00
	(To record accrued salaries)
31-Dec	Office supplies Expense	$    1,750.00
	Office supplies		$    1,750.00
	(To record office supplies expense)
31-Dec	Depreciation expense-Cleaning Equipment	$ 15,000.00
	Accumulated depreciation-Cleaning Equipment		$ 15,000.00
	(To record Depreciation)
31-Dec	Depreciation expense-Office Equipment	$    2,000.00
	Accumulated depreciation-Office Equipment		$    2,000.00
	(To record Depreciation)
31-Dec	Cleaning supplies Expense	$    7,400.00
	Cleaning supplies		$    7,400.00
	(To record office supplies expense)

Weaver Cleaners
Trial Balance
31-Dec
	Unadjusted trial balance		Adjustments		Adjusted trial balance
Account Title	Debit	Credit	Debit	Credit	Debit	Credit
Cash	$ 21,400.00				$ 21,400.00
Accounts receivable	$   4,200.00				$    4,200.00
Prepaid insurance	$   3,600.00			$ 1,200.00	$    2,400.00
Office supplies	$   2,700.00			$ 1,750.00	$      950.00
Cleaning Supplies	$   9,800.00			$ 7,400.00	$    2,400.00
Office Equipment	$ 17,000.00				$ 17,000.00
Accumulated depreciation-Office equipment		$    6,000.00		$ 2,000.00		$    8,000.00
Cleaning Equipment	$ 77,000.00				$ 77,000.00
Accumulated depreciation-cleaning equipment		$ 45,000.00		$15,000.00		$ 60,000.00
Accounts payable		$ 23,900.00				$ 23,900.00
Salary payable				$     550.00		$      550.00
A Weiver Capital		$ 57,500.00				$ 57,500.00
A weiver Withdrawals	$ 30,000.00				$ 30,000.00	$             -
Laundry revenue		$ 23,400.00				$ 23,400.00
Dry cleaning revenue		$ 81,900.00				$ 81,900.00
Salary expense	$ 29,400.00		$     550.00		$ 29,950.00
Rent expense	$ 18,000.00				$ 18,000.00
Utilities expense	$ 10,200.00				$ 10,200.00
Miscellaneous expenses	$      500.00				$      500.00
Depreciation expense-Cleaning Equipment			$15,000.00		$ 15,000.00
Depreciation expense-Office Equipment			$ 2,000.00		$    2,000.00
Advertising expense	$ 13,900.00				$ 13,900.00
Office Supplies expense			$ 1,750.00		$    1,750.00
Insurance Expense			$ 1,200.00		$    1,200.00
Cleaning supplies Expense			$ 7,400.00		$    7,400.00
Total	$237,700.00	$237,700.00	$27,900.00	$27,900.00	$255,250.00	$255,250.00