Selected account balances before adjustment for Alantic Coast Realty at July 31, 2016, the end of the current year, are as follows:
|
Debits
|
Credits
|
|
Accounts Receivable
|
$ 70,300
|
|
|
Equipment
|
345,500
|
|
|
Accumulated Depreciation-Equipment
|
|
$115,400
|
|
Prepaid Rent
|
9,100
|
|
|
Supplies
|
3,140
|
|
|
Wages Payable
|
|
-
|
|
Unearned Fees
|
|
13,700
|
|
Fees Earned
|
|
652,200
|
|
Wages Expense
|
314,300
|
|
|
Rent Expense
|
-
|
|
|
Depreciation Expense
|
-
|
|
|
Supplies Expense
|
-
|
|
Data needed for year-end adjustments are as follows:
a. Unbilled fees at July 31, $11,950.
b. Supplies on hand at July 31, $890.
c. Rent expired, $5,600.
d. Depreciation of equipment during year, $8,750.
e. Unearned fees at July 31, $2,040.
f. Wages accrued but not paid at July 31, $4,680.