miss socks & mr. fore the owners of Jazz dance studio have prepared the unadjusted trial balance for jazz dance studio limited. they know that before they can prepare their financial statements that adjusting journal entries must be prepared but do not know how to make the adjustments. knowig that you are taking an accounting course they come to you for assistance.
miss socks has provided you with the unadjusted trail balance and has gathered the following information for you:
depreciation has been calculated for the year but hasnt been recorded
equipment -$1500
Furniture-$1600
on August 1 the company paid $6000 for the rent for august,september & october
$625 of interest revenue has been earned but not recorded
the balance of office supplies on August 31,2020 is $1800
jazz dance studio operates 7 days a week and pays its employees on saturday for the week then ended . As August 31 falls on a Friday the company owes its employees for 6 days. The total salary for the week ending september 1, 2020 is $3,360
On August 1 the company recieved $1800 from students for dance fees for August, Spetember and october.
Prepare the necessary adjusting journal entries on August 31,2020
- depreciation has been calculated for the year but hasnot been recorded
I need trial balance to do the adjusting entry of office supplies....
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