Question

The trial balance of A. Duck Ponds, Inc., at December 31, 20XX, and the data needed...

The trial balance of A. Duck Ponds, Inc., at December 31, 20XX, and the data needed for the year-end adjustments follow. (Round all results to the nearest whole dollar amount.)

Accrued salary expense at December 31, $780.

Duck Ponds, Inc.

Trial Balance

December 31, 20XX

Account Title

Debit

Credit

Cash

$19,300

Accounts receivable

47,630

Allowance for doubtful accounts

250

Prepaid rent

1,680

Supplies

6,800

Investments

113,520

Furniture

15,350

Accumulated depreciation-furniture

12,800

Equipment

44,600

Accumulated depreciation-equipment

1,830

Building

89,900

Accumulated depreciation-building

28,600

Accounts payable

6,240

Salary payable

Unearned revenue, customer deposits

19,750

Bonds payable

150,000

Premium of bonds payable

6,000

Common stock

20,000

Retained earnings

54,920

Dividends

5,250

Revenue

128,800

Salary expense

51,600

Rent expense

5,000

Utilities expense

10,410

Depreciation expense-furniture

0

Depreciation expense-equipment

0

Depreciation expense-building

0

Advertising expense

5,650

Supplies expense

12,000

Bad debts expense

0

Interest expense

0

Total

$428,940

$428,940

Homework Answers

Answer #1
  • Adjustment data given is that Accrued salary expense at Dec 31 is $ 780
  • Salaries Payable in Trial balance is $ 0
  • Hence the adjustment entry would be:
Date Accounts title Debit Credit
31-Dec Salary expenses $                 780.00
Salary Payable $                780.00
(Salaries accrued to be paid)
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