Axia College Material

Appendix D Adjusting Entries, Posting, and Preparing an Adjusted Trial Balance
Adjusting Entries
Use this General Journal to record adjusting entries on June 30, 2008 for Masasi Company, Inc. The first few lines are completed for you.

GENERAL JOURNAL DATE ACCOUNT TITLE AND EXPLANATION June 30 Supplies Expense Supplies ($2000 - $600) 30 Utilites Expense Utilites Payable 30 Insurance Expense Prepaid Insurance 30 Unearned Service Revenue Service Revenue 30 Salaries Expense Salaries Payable 30 Depreciation Expense Accumulated Depreciation - Office Equipment 30 Accounts Receivable Service Revenue

J3 REF. DEBIT CREDIT 631 $1,400 126 $1,400 732 $150 244 $150 722 $250 130 $250 209 $2,500 400 $2,500 726 $2,000 212 $2,000 711 $250 158 $250 112 $1,000 400 $1,000

a) Adjust Entries

000 $250 Account: Office Equipment DATE EXPLANATION 30-Jun-2008 Office equipment New REF. including account titles and numbers for the remaining accounts.000 REF. and Preparing an Adjusted Trial Balance Posting Entries Use this General Ledger to post adjusting entries to all 18 ledger accounts for Masasi Company.000 Account: Accumulated Depreciation-Office Equipment DATE EXPLANATION REF. √ DEBIT CREDIT $7. You can copy the check mark in the Cash acco and paste it when you want to use it. and b) Place a check mark in the reference column. √ J3 DEBIT CREDIT $6. The first two accounts are completed for you. GENERAL LEDGER Account: Cash DATE EXPLANATION 30-Jun-2008 Balance Account: Accounts Receivable DATE EXPLANATION 30-Jun-2008 Balance 30-Jun-2008 Adjusting Account: Supplies DATE EXPLANATION 30-Jun-2008 Begginning Supply Balance 30-Jun-2008 Supplies used in June REF.000 $1. Make sure you: a) Fill in the correct information. √ J3 DEBIT CREDIT $3.400 Account: Prepaid Insurance DATE EXPLANATION 30-Jun-2008 Prepaid Insurance 30-Jun-2008 Prepaid Insurance Adjustment REF. 30-Jun-2008 Office equipment depreciation DEBIT CREDIT $250 b) Post to Ledger Accounts .Axia College Material Appendix D Adjusting Entries. Posting.000 $1. √ DEBIT CREDIT $15. when applicable.150 REF. Inc. √ DEBIT CREDIT $2.

500 $1. J3 DEBIT CREDIT $2.000 Account: Salaries Payable DATE EXPLANATION 30-Jun-2008 Salaries paid REF.750 Account: Service Revenue DATE EXPLANATION REF. √ J3 DEBIT $2.Account: Accounts Payable DATE EXPLANATION 30-Jun-2008 Beginning Accounts Payable Balance REF. √ DEBIT CREDIT $4.900 $2.500 Account: Unearned Service Revenue DATE EXPLANATION 30-Jun-2008 Unearned Service Rev beginning bal 30-Jun-2008 Unearned Service Rev. √ DEBIT CREDIT $21.000 Account: Supplies Expenses DATE EXPLANATION 30-Jun-2008 Supplies used in June REF. J3 DEBIT CREDIT 1. 30-Jun-2008 Service Revenue Beginning Bal √ 30-Jun-2008 Service Revenue Earned J3 30-Jun-2008 Service Revenue for June invoice not recorded J3 DEBIT CREDIT $7.500 CREDIT $4. earned REF.400 b) Post to Ledger Accounts . J3 DEBIT CREDIT $150 Account: Common Stock DATE EXPLANATION 30-Jun-2008 Common Stock Beginning Bal REF.000 Account: Utilities Payable DATE EXPLANATION 30-Jun-2008 Utility bill for June not paid REF.

J3 DEBIT CREDIT $150 b) Post to Ledger Accounts . J3 DEBIT CREDIT $250 Account: Insurance Expenses DATE EXPLANATION 30-Jun-2008 Monthly insurance cost REF.000 Account: Utilities Expenses DATE EXPLANATION 30-Jun-2008 Utility Bill for June REF. J3 DEBIT CREDIT $250 Account: Salary Expenses DATE EXPLANATION 30-Jun-2008 Salary Expenses Beginning Balance 30-Jun-2008 Salary Accured Account: Rent Expenses DATE EXPLANATION 30-Jun-2008 Rent Expenses Beginning Bal REF.Account: Depreciation Expenses DATE EXPLANATION 30-Jun-2008 Office equipment depreciation REF. √ J3 DEBIT CREDIT $4. √ DEBIT CREDIT $1.000 REF.000 $2.

Inc. 112 BALANCE $6. including account titles and numbers for the remaining column.000 $7.000 No. when applicable. 130 BALANCE $3.000 $600 No.750 No. 158 BALANCE $250 b) Post to Ledger Accounts .000 $2. The first two accounts are t information.000 No. You can copy the check mark in the Cash account No.150 No. 126 BALANCE $2. 101 BALANCE $7. 157 BALANCE $15.Appendix D paring an Adjusted Trial Balance 18 ledger accounts for Masasi Company.

No.500 No. 212 BALANCE $2.500 No.400 b) Post to Ledger Accounts .400 $11.900 $10. 201 BALANCE $4. 631 BALANCE 1. 311 BALANCE $21. 400 BALANCE $7.750 No. 244 BALANCE $150 No.000 $1. 209 BALANCE $4.400 No.000 No.

722 BALANCE $250 No. 726 BALANCE $4.000 No.000 No. 711 BALANCE $250 No. 732 BALANCE $150 b) Post to Ledger Accounts .No. 729 BALANCE $1.000 $6.

400 $250 $250 $6.000 $1. 2008. Adjusted Trial Balance 30-Jun-08 ACCOUNTS Cash Accounts Receivable Supplies Prepaid Insurance Office Equipment Accumulated Depreciation of office equipment Accounts Payable Unearned Service Revenue Salaries Payable Utilities Payable Common Stock Service Revenue Supplie Expenses Depreciation Expenses Insurance Expenses Salary Expenses Rent Expenses Utilities Expenses Totals DEBIT $7. and Preparing an Adjusted Trial Balance Prepare Adjusted Trial Balance Use this Trial Balance template to prepare an adjusted trial balance for Masasi Company.750 $11.Axia College Material Appendix D Adjusting Entries.550 CREDIT 41. Posting. at June 30.500 $1. MASASI COMPANY.750 $15. Otherwise.000 $250 $4.150 $7. you can compute totals using a calculator.400 $1.550 c) Prepare Adjusted Trial Bal. then enter totals directly.000 $600 $2.000 $150 $41.500 $2. Inc. INC. . You can place summation formulas at the end of the Debit and Credit columns to compute debit and credit totals.000 $150 $21.

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