Masasi’s Trial Balance

Accounting Adjusting Entries, Posting and Preparing an Adjusted Trial proportionateness MASASI COMPANY, INC. Trial labyrinthine sense June 30, 2008 Account Number debit doctrine 101 Cash $ 7,150 112 Accounts Receivable 6,000 126 Supplies 2,000 130 Pre gainful Insurance 3,000 157 Office Equipment 15,000 201 Accounts account payable $ 4,500 209 Unearned Service tax 4,000 311 Common source 21,750 400 Service Revenue 7,900 726 Salaries disbursal 4,000 729 Rent Expense 1,000 Total $38,150 Total $38,150 In addition to those accounts listed on the trial balance, the map of accounts for Masasi Company,Inc. lso contains the following accounts and account numbers No. 158 Accumulated disparagementOffice Equipment, No. 212 Salaries Payable,No. 244 Utilities Payable, No. 631 Supplies Expense,No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 732 Utilities Expense. Other entropy 1. Supplies on hand at June 30 are $600. 2. A utility bill for $150 has not been recorded and will not be paid until next month. 3. The insurance policy is for a year. 4. $2,500 of unearned service revenue has been earned at the end of the month. 5. Salaries of $2,000 are accrued at June 30. 6.The office equipment has a 5-year life with no salvage value. It is being depreciated at $250 per month for 60 months. 7. Invoices representing $1,000 of services performed during the month have not been recorded as of June 30. Instructions (a) unsex the adjusting entries for the month of June. Use J3 as the page number for your journal. (b) Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances and place a check mark in the posting reference column. (c) Prepare an adjusted trial balance at June 30, 2008. Use the templates in Appendix D.Complete all tether tabs. (a) J3 leave Account Titles and bill Ref. debit entry Credit 2008 June 30 Supplies Expense 631 1,400 Supplies 126 ? ,400 ($2,000 $600) 30 Utilities Expense 732 ? 50 Utilities Payable 244 ? 150 30 Insurance Expense 722 ? 50 pay Insurance 130 ? 250 ($3,000 ? 12 months) 30 Unearned Service Revenue 209 2,500 Service Revenue 400 2,500 30 Salaries Expense 726 2,000 Salaries Payable 212 2,000 30 Depreciation Expense 711 ? 250 Accumulated Depreciation Office Equipment 158 ? 250 ($15,000 ? 0 months) 30 Accounts Receivable 112 1,000 Service Revenue 400 1,000 (b) CashNo. 101 get wind exposition Ref. Debit Credit Balance 2008 June 30 Balance ? 7,150 Accounts ReceivableNo. 112 Date account statement Ref. Debit Credit Balance 2008 June 30 Balance ? ? 6,000 30 Adjusting J3 1,000 ? 7,000 SuppliesNo. 126 Date Explanation Ref. Debit Credit Balance 2008 June 30 Balance ? ? 2,000 30 Adjusting J3 1,400 ? 600 Prepaid InsuranceNo. 130 Date Explanation Ref. Debit Credit Balance 2008 June 30 Balance ? ? ,000 30 Adjusting J3 250 ? 2,750 Office EquipmentNo. 157 Date Explanation Ref. Debit Credit Balance 2008 June 30 Balance ? 15,000 Accumulated DepreciationOffice EquipmentNo. 158 Date Explanation Ref. Debit Credit Balance 2008 June 30 Adjusting J3 250 250 Accounts PayableNo. 201 Date Explanation Ref. Debit Credit Balance 2008 June 30 Balance ? ? 4,500 Unearned Service RevenueNo. 209 Date Explanation Ref. Debit Credit Balance 2008 June 30 Balance ? ? 4,000 30 Adjusting J3 2,500 ? 1,500 Salaries PayableNo. 212 Date Explanation Ref. Debit Credit Balance 2008 June 30 Adjusting J3 2,000 2,000 Utilities PayableNo. 244 Date Explanation Ref. Debit Credit Balance 2008 June 3 0 Adjusting J3 ? 150 150 Common StockNo. 311 Date Explanation Ref. Debit Credit Balance 2008 June 30 Balance ? 21,750 Service RevenueNo. 400 Date Explanation Ref. Debit Credit Balance 2008 June 30 Balance ? ? 7,900 30 Adjusting J3 2,500 10,400 30 Adjusting J3 1,000 11,400 Supplies ExpenseNo. 631 Date Explanation Ref. Debit Credit Balance 2008 June 30 Adjusting J3 1,400 1,400 Depreciation ExpenseNo. 711 Date Explanation Ref. Debit Credit Balance 2008 June 30 Adjusting J3 250 ? 250 Insurance ExpenseNo. 722 Date Explanation Ref. Debit Credit Balance 2008 June 30 Adjusting J3 250 ? 250 Salaries ExpenseNo. 726 Date Explanation Ref. Debit Credit Balance 2008 June 30 Balance ? ? ,000 30 Adjusting J3 2,000 ? 6,000 Rent ExpenseNo. 729 Date Explanation Ref. Debit Credit Balance 2008 June 30 Balance ? 1,000 Utilities ExpenseNo. 732 Date Explanation Ref. Debit Credit Balance 2008 June 30 Adjusting J3 150 ? 150 (c)MASASI COMPANY, INC. Adjusted Trial Balance June 30, 2008 Debit Credit Cash $? 7,150 Accounts Receivable ,000 Supplies 600 Prepaid Insurance 2,750 Office Equipment ? 15,000 Accumulated DepreciationOffice Equipment $ 50 Accounts Payable 4,500 Unearned Service Revenue 1,500 Salaries Payable 2,000 Utilities Payable 150 Common Stock ? 1,750 Service Revenue ? 11,400 Supplies Expense 1,400 Depreciation Expense 250 Insurance Expense 250 Salaries Expense ,000 Rent Expense 1,000 Utilities Expense 150 $41,550 $41,550 http//www. google. com. vn/url? sa=t&rct=j&q=&esrc=s&source=web&cd=16&ved=0CGEQFjAFOAo&url=http%3A%2F%2Fww2. justanswer. com%2Fuploads%2FBusinessTutor%2F2010-01-13_004112_P3-2A. doc&ei=veS2UK-uBuahigf5iIGgAw&usg=AFQjCNGG338kPyI9kNi9KfLTWh4V2fY bfg&cad=rja