Question

A partial work sheet for Marge's Place is shown below. Prepare the following adjustments on this...

A partial work sheet for Marge's Place is shown below.

Prepare the following adjustments on this work sheet for the month ended June 30, 20--.

  1. Expired or used-up insurance, $570.
  2. Depreciation expense on equipment, $820 (Remember to credit the Accumulated Depreciation account for equipment, not Equipment).
  3. Wages accrued or earned since the last payday, $1,430 (owed and to be paid on the next payday).
  4. Supplies used, $110.

If no amount is required, enter 0.

Marge's Place
Work Sheet
For Month Ended June 30, 20--
TRIAL BALANCE ADJUSTMENTS
ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT
1 Cash 4,609 1
2 Supplies 250 2
3 Prepaid Insurance 1,800 3
4 Equipment 4,880 4
5 Accumulated Depreciation, Equipment 1,350 5
6 Accounts Payable 2,539 6
7 M. Benson, Capital 4,783 7
8 M. Benson, Drawing 2,000 8
9 Income from Services 6,937 9
10 Rent Expense 1,086 10
11 Supplies Expense 256 11
12 Wages Expense 660 12
13 Miscellaneous Expense 68 13
14 15,609 15,609 14
15 Insurance Expense 15
16 Depreciation Expense, Equipment 16
17 Wages Payable 17
18 18

Homework Answers

Answer #1
Account Names Unadjusted Trial Balance Adjustments Adjusted Trial Balance
Debit Credit Debit Credit Debit Credit
Cash 4,609 4,609
Supplies expenses 250 110 140
Prepaid Insurance 1,800 570 1230
Equipment 4,880 4,880
Accumulated dep    1350 820 2170
Accounts payable 2539 2,539
M. Benson capital 4783 4,783
M. Benson drawings 2000 2000
Income from Services 6937 6,937
Rent expenses 1086 1086
Supplies expenses 256 110 366
Wages expense 660 1430 2,090
Misc. expense 68 68
Insurance expenses 570 570
Depreciation expenses 820 820
Wages payable 1430 1430
Total 15,609 15609 2,930 2,930 17,859 17,859
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