Instructions:

Using the balances from the Unadjusted Trial Balance (UTB sheet) and the following information,
please prepare the necessary adjusting entries, for October 2020

a)       Record rent for the month of October (the amount on the UTB was for six months in advance) monthly $1,000
b)      For the period of October 21 to October 31 Sharon owed but has not paid her employees $1,500
c)       Sharon has $1,000 of supplies on hand
d)      Depreciation on equipment for October is $100
e) Sharon earned but have not received $7,000 for consulting fees

After you finish the entries -post them to the General Ledger (GL) sheet
When you finish posting to the GL, balance the accounts and complete the Adjusted Trial Balance (ATB)
Sharon Matthews Consulting
General Journal
Date Account PR Debit Credit
vance) monthly $1,000

al Balance (ATB)
 Cash 10 Fees Earned
40,000 6,000 18,250
1,750
18,250 1,880
5,000
2,000
58,250 16,630
Balance 41,620

Accounts Receivable Rent Expense

Prepaid Rent 11 Automobile Expense

6,000 1,880

Supplies 12 Rent Expense

3,200

Office Equipment 13 Supplies Expense

2,500

Accumulated Depreciation 14 Office Salary/Wages Expense

5,000
 Depreciation Expense

Accounts Payable 21
1,750 3,200
2,500
1,750 5,700
3,950

Wages/Salaries Payable 22

Sharon Matthews, Capital 31

40,000

Sharon Matthews, Drawing 32

2,000
41

51

51

52

53

54
55
 Sharon Matthews Consulting
Unadjusted Trial Balance
October 31, 2020

AC# Account Debit Credit

10 Cash 41,620
11 Accounts Receivable -
12 Prepaid Rent 6,000
13 Supplies 3,200
14 Office Equipment 2,500
15 Accumulated Depreciation - Equip -
22 Accounts Payable 3,950
22 Wages/Salaries Payable
31 Sharon Matthews, Capital 40,000
32 Sharon Matthews, Drawing 2,000
41 Fees Earned 18,250
51 Automobile Expense 1,880
52 Rent Expense -
53 Supplies Expense
54 Office Salaries/Wages Exense 5,000
55 Depreciation
62,200 62,200 -
 Sharon Matthews Consulting
Unadjusted Trial Balance
October 31, 2020

AC# Account Debit Credit

10 Cash
11 Accounts Receivable
12 Prepaid Rent
13 Supplies
14 Office Equipment
15 Accumulated depreciation
22 Accounts Payable
22 Wages/Salaries Payable
31 Sharon Matthews, Capital
32 Sharon Matthews, Drawing
41 Fees Earned
51 Automobile Expense
52 Rent Expense
53 Supplies Expense
54 Wages expense
55 Depreciation Expense
- - -