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A partial trial balance of Larkspur Corporation is as follows on December 31, 2021. Dr. Cr....

A partial trial balance of Larkspur Corporation is as follows on December 31, 2021.

Dr.

Cr.

Supplies

 $2,500

Salaries and wages payable

 $1,500

Interest Receivable

 5,100

Prepaid Insurance

 95,100

Unearned Rent

 0

Interest Payable

 15,400


Additional adjusting data:

1. A physical count of supplies on hand on December 31, 2021, totaled $1,000.
2. Through oversight, the Salaries and Wages Payable account was not changed during 2021. Accrued salaries and wages on December 31, 2021, amounted to $4,300.
3. The Interest Receivable account was also left unchanged during 2021. Accrued interest on investments amounts to $4,100 on December 31, 2021.
4. The unexpired portions of the insurance policies totaled $70,900 as of December 31, 2021.
5. $28,600 was received on January 1, 2021, for the rent of a building for both 2021 and 2022. The entire amount was credited to rent revenue.
6. Depreciation on equipment for the year was erroneously recorded as $5,200 rather than the correct figure of $52,000.
7.

A further review of depreciation calculations of prior years revealed that equipment depreciation of $7,600 was not recorded. It was decided that this oversight should be corrected by a prior period adjustment.

there is 7 entries to be done. thank you

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Larkspur Corporation

Adjusting Entries –

ekkarill92 answered 2 years ago
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