Only two adjustments appear in the "Adjustments" column of a worksheet for Winona Manufacturing Company: one to record $7,300 depreciation of factory equipment and the second to record the use of $1,150 of prepaid insurance. If the Trial Balance column totals are $144,680, what are the totals of the Adjusted Trial Balance columns? Select one: a. $ 144,680. b. $153, 130. c. $151, 980. d. $150,830.

Only two adjustments appear in the "Adjustments" column of a worksheet for Winona Manufacturing Company: one to record $7,300 depreciation of factory equipment and the second to record the use of $1,150 of prepaid insurance. If the Trial Balance column totals are $144,680, what are the totals of the Adjusted Trial Balance columns? Select one: a. $ 144,680. b. $153, 130. c. $151, 980. d. $150,830.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter4: Adjusting Entries And The Work Sheet

Section: Chapter Questions

Problem 2PB: The trial balance of The New Decors for the month ended September 30 is as follows: Data for the...

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The account balances of Bryan Company as of June 30, the end of the current fiscal year, are as follows: Required 1. Data for the adjustments are as follows: a. Expired or used up insurance, 495 b. Depreciation expense on equipment, 670. c. Depreciation expense on the van, 1,190. d. Salary accrued (earned) since the last payday, 540 (owed and to be paid on the next payday). e. Supplies used during the period, 97. Your instructor may want you to use a work sheet for these adjustments. 2. Journalize the adjusting entries. 3. Prepare an income statement. 4. Prepare a statement of owners equity. Assume that there was an additional investment of 2,000 on June 10. 5. Prepare a balance sheet. 6. Journalize the closing entries using the four steps in the correct sequence. Check Figure Net Income, 13,627
Reece Financial Services Co., which specializes in appliance repair services, is owned and operated by Joni Reece. Reece Financial Services accounting clerk prepared the following unadjusted trial balance at July 31, 2019: The data needed to determine year-end adjustments are as follows: Depreciation of building for the year, 6,400. Depreciation of equipment for the year, 2,800. Accrued salaries and wages at July 31, 900. Unexpired insurance at July 31, 1,500. Fees earned but unbilled on July 31, 10,200. Supplies on hand at July 31, 615. Rent unearned at July 31, 300. Instructions 1. Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable, Rent Revenue, Insurance Expense, Depreciation ExpenseBuilding, Depreciation ExpenseEquipment, and Supplies Expense. 2. Determine the balances of the accounts affected by the adjusting entries and prepare an adjusted trial balance.
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