Jacksonvill Financial Service Co.which specializes in ppliance repairservice is owned and operated by Cindy Latty. Jacksonville Fanancial service compant accounting clerk. Prepare the unadjusted trial balance at December 31 2010 as below.
Jacksonville Fanancial Service Co. Unadjusted Trial Balance December 31,2010
Debit balance Credit balance
Cash $10200
Account receivable $34750
Pre paid insurance $6000
Supplies $1725
Land $50000
Building $ 80750
Accumulated depreciation Building $37850
Equipment $45000
Accumulated depriciation Equipment $17650
Account payable $3750
Unearned rent $3600
Cindy Latty capital $103550
Cindy Latty Drawing $8000
Fees earned $158600
salaries and wages expense $56850
Utilities expense $14100
Adversiting expense $7500
repair expense $6100
Miscelleneous Expense $4025
The data needed to be determine year ended adjusted are as follow
a. depreciation of building for the year ended $2100
b. depreciation of equipment for the year $3000
c. accrued salaries and wages at dec 31 $800
d.Unexpired inurance at december 31, $1500
e. fees earned but unbilled on Dec.31, $2150
f. Supplies on hand at dec31, $600
g. Rent unearned at december 31, $1500
Instruction
1. Journalize the adjusting entries. add additional accounts as needed
2. Determine the balances of the accounts affected by the adjusting entries and prepare an adjusting trial balance