Freeny Corporation adjustment data and the unadjusted trial balance.
Adjustment data:
Unusual supplies on hand, $230
Unexpired rent, $1,000
Depreciation on buildings,$1,500
Depreciation on equipment, $800
Unearned fees still unearned, $740
Salaries earned but not yet paid $740
Accured interest on the note, $240
Fees earned but not recorded and not received, $570
Freeny Corporation unadjusted trial balance March 31, 2010
|
Debits
|
Credits
|
|
Cash
|
$7,280
|
|
|
Accounts receivable
|
1,700
|
|
|
Supplies
|
940
|
|
|
Prepaid rent
|
2,400
|
|
|
Land
|
52,000
|
|
|
Buildings
|
94,000
|
|
|
Accumulated depreciation buildings
|
|
$16,600
|
|
equipment
|
41,500
|
|
|
Accumulated depreciation equipment
|
|
13,500
|
|
Accounts payable
|
|
3,480
|
|
Unearned fees
|
|
2,970
|
|
Note payable
|
|
60,000
|
|
Capital stock
|
|
45,000
|
|
Retained earnings
|
|
39,150
|
|
Fee revenue
|
|
29,300
|
|
Salary expense
|
9,320
|
|
|
Telephone expense
|
260
|
|
|
Utilities expense
|
410
|
|
|
Miscellaneous expense
|
190
|
|
|
Total
|
$210,000
|
|
Question: Prepare the adjusting entries. In some instances, you will need to establish new accounts.