Question

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North Star prepared the following unadjusted trial balance at the end of its second year of operations ending December 31.

Account Titles	Debit				Credit
Cash	$	11,700
Accounts Receivable		5,700
Prepaid Rent		2,340
Equipment		20,700
Accumulated Depreciation					$	1,130
Accounts Payable						1,130
Income Tax Payable						0
Common Stock						24,500
Retained Earnings						1,800
Sales Revenue						48,780
Salaries and Wages Expense		24,700
Utilities Expense		12,200
Rent Expense		0
Depreciation Expense		0
Income Tax Expense		0
Totals	$	77,340			$	77,340

Other data not yet recorded at December 31:

Rent expired during the year, $1,170.

Depreciation expense for the year, $1,130.

Utilities used and unpaid, $8,700.

Income tax expense, $360.

T Accounts

Adjusted TB

Summarize the adjusting journal entries in T-accounts. After entering the beginning balances and computing the adjusted ending balances.

Prepaid Rent Rent Expense Beg. Bal. 0 Beg. Bal. 0 1,170 (a) (a) 1,170 0 0 End. Bal. 1,170 End. Bal. 1,170 Accumulated Depreciation Depreciation Expense Beg. Bal. 0 Beg. Bal. 0 1,130 (b) (b) 1,130 0 0 End. Bal. 1,130 End. Bal. 1,130 Accounts Payable Utilities Expense Beg. Bal. 0 1,130 Beg. Bal. 12,200 0 8,700 (c) (c) 8,700 0 0 End. Bal. 9,830 End. Bal. 20,900 Income Tax Payable Income Tax Expense Beg. Bal. 0 Beg. Bal. 0 360 (d) (d) 360 0 0 End. Bal. 360 End. Bal. 360

NORTH STARAdjusted Trial BalanceAs of December 31Account TitlesDebitCreditCash$11,700Accounts Receivable5,700Prepaid Rent1,170Equipment20,700Accumulated Depreciation2,260Accounts Payable9,830Income Tax Payable360Common Stock24,500Retained Earnings1,800Sales Revenue48,780Salaries and Wages Expense24,700Utilities Expense20,900Rent Expense1,170Depreciation Expense1,130Income Tax Expense360Totals$87,530$87,530

I keep getting that i am missing something

Answer 1

Transaction	Assets		Liabilities
a	Prepaid Rent	1170
b	Acumulated Dpriciation-Equipment	1130
c			Accounts Payable	8700
d			Income tax payable	360

Stockholder's Equity
Rent expense	-1170
Depriciation Expense	-1130
Utilities Expense	-8700
Income tax expense	-360

adjusting journal entries
Transaction	Gneral Journal	Debit	Credit
a	Rent expense	1170
	Prepaid Rent		1170
b	Depriciation Expense	1130
	Accumulated Depriciation - Equipment		1130
c	Utilities Expense	8700
	Account Payable		8700
d	Income tax expense	360
	Income tax payable		360

a
Prepaid Rent
Beg Bal	2340
		a	1170
End Bal	1170
Depriciation Expense
Beg Bal	1130
		C	8700
End Bal	7570
Income Tax expense
Beg Bal	0
d	360
End Bal	360

Rent Expense
Beg Bal
a	1170
End Bal	1170
Utilities Expense
Beg Bal	12200
C	8700
End Bal	20900
Accounts Payable
		Beg Bal	1130
		C	8700
End Bal	9830

Accumulated Depriciation - Equipment
		Beg Bal	1130
		b	1130
End Bal	2260

Income Tax payable
Beg Bal.
		d	360
End Bal	360

North Star Adjusted Trial Balance As of December 31
Account Titles	Debit	Credit
Cash	11700
Account Receivables	5700
Prepaid Rent	1170
Equipment	20700
Accumulated Depriciation - Equipment		2260
Accounts payale		9830
Income Tax payable		360
Common Stock		24500
Retained Earnings		1800
Sales Revenue		48780
Salaris and wages expense	24700
Utilities Expense	20900
Rent Expnse	1170
Depriciation Expense	1130
Income Tax Expense	360
	87530	87530