The Signage Company specializes in the maintenance and repair of signs, such as billboards.


Question Description:

33

Adjusting entries The Signage Company specializes in the maintenance and repair of signs, such as billboards. On March 31, 2014, the accountant for The Signage Company prepared the following trial balances: The Signage Company Trial Balances March 31, 2014 The Signage Company Trial Balances March 31, 2014 The Signage Company Trial Balances March 31, 2014 The Signage Company Trial Balances March 31, 2014 The Signage Company Trial Balances March 31, 2014 Unadjusted Unadjusted Adjusted Debit Balances Credit Balances Debit Balances Credit Balances Cash . 4,750 4,750 Accounts Receivable 17,400 17,400 Supplies 6,200 2,175 Prepaid Insurance 9,000 1,150 Land 100,000 100,000 Buildings 170,000 170,000 Accumulated Depreciation—Buildings Accumulated Depreciation—Buildings 51,500 Trucks Trucks Accumulated Depreciation—Trucks Accumulated Depreciation—Trucks 12,000 17,000 Accounts Payable Accounts Payable 6,920 8,750 Salaries Payable Salaries Payable Salaries Payable Salaries Payable 1,400 Unearned Service Fees Unearned Service Fees 10,500 3,850 Capital Stock Capital Stock 50,000 50,000 Retained Earnings Retained Earnings 206,400 206,400 Dividends 7,500 7,500 Service Fees Earned Service Fees Earned 168,680 169,330 Salary Expense 80,000 81,400 Depreciation Expense—Trucks Depreciation Expense—Trucks Depreciation Expense—Trucks 5,000 Rent Expense 11,900 11,900 Supplies Expense Supplies Expense Supplies Expense 4,025 Utilities Expense 6,200 8,030 Depreciation Expense—Buildings Depreciation Expense—Buildings Depreciation Expense—Buildings 9,500 Taxes Expense 2,900 2,900 Insurance Expense Insurance Expense Insurance Expense 7,850 Miscellaneous Expense 9,150 9,150 517,730 517,730 517,730 517,730 Instructions Journalize the seven entries that adjusted the accounts at March 31. None of the accounts were affected by more than one adjusting entry.

Answer

33