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Appendix: Adjustment Data on an End-of-Period Spreadsheet Alert Security Services Co. offers security services to business...

Appendix: Adjustment Data on an End-of-Period Spreadsheet

Alert Security Services Co. offers security services to business clients. The trial balance for Alert Security Services Co. has been prepared on the following end-of-period spreadsheet for the year ended October 31, 20Y5. In addition, the data for year-end adjustments are as follows:

  1. Fees earned but not yet billed, $18.
  2. Supplies on hand, $4.
  3. Insurance premiums expired, $22.
  4. Depreciation expense, $9.
  5. Wages accrued but not paid, $9.

Enter the adjustment data and place the balances in the Adjusted Trial Balance columns. If an amount box does not require an entry, leave it blank.

Alert Security Services Co.
End-of-Period Spreadsheet (Work Sheet)
For the Year Ended October 31, 20Y5
Unadjusted Trial Balance Adjustments Adjusted Trial Balance
Account Title Dr. Cr. Dr. Cr. Dr. Cr.
Cash 66
Accounts Receivable 176
Supplies 18
Prepaid Insurance 26
Land 220
Equipment 88
Accumulated Depreciation 9
Accounts Payable 79
Wages Payable 0
Brenda Schultz, Capital 413
Brenda Schultz, Drawing 18
Fees Earned 198
Wages Expense 44
Rent Expense 26
Insurance Expense 0
Utilities Expense 13
Supplies Expense 0
Depreciation Expense 0
Miscellaneous Expense 4
Totals 699 699

Post-Closing Trial Balance

An accountant prepared the following post-closing trial balance:

La Casa Services Co.
Post-Closing Trial Balance
March 31, 20Y6
Debit Balances Credit Balances
Cash 12,700
Accounts Receivable 28,190
Supplies 1,780
Equipment 125,600
Accumulated Depreciation 41,910
Accounts Payable 15,240
Salaries Payable 1,400
Unearned Rent 5,720
Sonya Flynn, Capital 104,000
207,760 128,780

Prepare a corrected post-closing trial balance. Assume that all accounts have normal balances and that the amounts shown are correct. If an amount box does not require an entry, leave it blank.

La Casa Services Co.
Post-Closing Trial Balance
March 31, 20Y6
Debit Balances Credit Balances
Cash
Accounts Receivable
Supplies
Equipment
Accumulated Depreciation
Accounts Payable
Salaries Payable
Unearned Rent
Sonya Flynn, Capital
Totals

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Expert Solution

ekkarill92 answered 2 years ago
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