Practice problems on adjusting entry and adjusted trial balance
“X” companies Trial Balance on June 30, 2019 are as follows:
Accounts No
1.
2.
3.
4.
5.
6.
7.
8.
9.
1.
11.
Accounts Name
Cash
Accounts Receivable
Prepaid Insurance
Supplies
Office Equipment
Accounts payable
Unearned Service Revenue
“X” Capital
Service Revenue
Salaries Expense
Rent Expense
Total
Debit
Credit
7150
6000
3000
2000
15000
4500
4000
21750
7900
4000
1000
38150
38150
Other Data:
1.
2.
3.
4.
5.
6.
7.
Supplies on hand at June, 30 are Tk. 1100.
A utility bill for Tk. 150 has not been recorded and will not be paid until next month.
The insurance policy is for a year.
Tk. 2500 of unearned service revenue has been earned at the end of the month.
Salaries of Tk. 1500 are accrued at june,30,
The office equipment has a 5-year life. It is being depreciated Tk. 250 per month.
Invoices representing Tk.2000 of service performed during the month have not been recorded as
of June, 30.
Requirements:
(a) Prepare necessary adjusting entries.
(b) Prepare an adjusted Trial Balance at june30, 2019.
Requirement: (a)
“X” Company
Adjusting Entry
June 30, 2012
Date
Accounts Name
Ref
No
Debit
2012
June-30 Supplies expense……………………………………..Dr
Supplies…………………………………………..Cr
900
June-30 Utility expense……………………………………….Dr
Utility payable……………………………………..Cr
150
June-30 Insurance expense……………………………………Dr
Prepaid insurance………………………………….Cr
250
June-30 Unearned revenue…………………………………….Dr
Service revenue…………………………………….Cr
2500
June-30 Salary expense……………………………………….Dr
Salary payable…………………………………….Cr
Credit
900
150
250
2500
1500
1500
June-30 Depreciation expense………………………………..Dr
Accumulated depreciation office equipment……..Cr
250
June-30 Accounts receivable…………………………………Dr
Service revenue…………………………………..Cr
2000
250
2000
Requirement: (b)
“X” Company
Adjusted Trial Balance
December 31, 2019
Accounts Title
Cash
Accounts receivable
Prepaid insurance
Supplies
Office equipment
Accounts payable
Unearned service revenue
X capital
Service revenue
Utility payable
Salary payable
Accumulated depreciation office equipment
Salary expense
Rent expense
Supplies expense
Utility expense
Insurance expense
Depreciation expense
Total
Debit
Credit
7,150
8,000
2,750
1100
15,000
4,500
1,500
21,750
12,400
150
1,500
250
5,500
1,000
900
150
250
250
42,050
42,050