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TheFutureofEnergy.docx

Selected transactions for Marigold’s Dog Care are as follows during the month of March.

March 1		Paid monthly rent of $940.
3		Performed services for $110 on account.
5		Performed services for cash of $60.
8		Purchased equipment for $470. The company paid cash of $60 and the balance was on account.
12		Received cash from customers billed on March 3.
14		Paid salaries and wages to employees of $410.
22		Paid utilities of $56.
24		Borrowed $1,170 from Grafton State Bank by signing a note.
27		Paid $170 to repair service for plumbing repairs.
28		Paid balance amount owed from equipment purchase on March 8.
30		Paid $1,320 for six months of insurance.

Oriole Company has the following balances in selected accounts on December 31, 2022.

Accounts Receivable		$ 0
Accumulated Depreciation—Equipment		0
Equipment		7,000
Interest Payable		0
Notes Payable		11,000
Prepaid Insurance		4,080
Salaries and Wages Payable		0
Supplies		2,900
Unearned Service Revenue		31,000

All the accounts have normal balances. The information below has been gathered at December 31, 2022. Interest will be paid when the note is repaid.

1.		Oriole Company borrowed $9,000 by signing a 9%, one-year note on September 1, 2022.
2.		A count of supplies on December 31, 2022, indicates that supplies of $970 are on hand.
3.		Depreciation on the equipment for 2022 is $1,800.
4.		Oriole paid $4,080 for 12 months of insurance coverage on June 1, 2022.
5.		On December 1, 2022, Oriole collected $31,000 for consulting services to be performed evenly from December 1, 2022, through March 31, 2023.
6.		Oriole performed consulting services for a client in December 2022. The client will be billed $3,800.
7.		Oriole pays its employees total salaries of $5,500 every Monday for the preceding 5-day week (Monday through Friday). On Monday, December 29, employees were paid for the week ending December 26. All employees worked the last 3 days of 2022.

The trial balance for Oriole Advertising is shown below.

Oriole Advertising Trial Balance October 31, 2022
	Debit	Credit
Cash	$15,000
Supplies	2,600
Prepaid Insurance	500
Equipment	5,300
Notes Payable		$5,000
Accounts Payable		2,400
Unearned Service Revenue		1,300
Owner’s Capital		9,800
Owner’s Drawings	500
Service Revenue		11,100
Salaries and Wages Expense	4,900
Rent Expense	800
	$29,600	$29,600

Assume the following adjustment data.

1.		Supplies on hand at October 31 total $700.
2.		Expired insurance for the month is $100.
3.		Depreciation for the month is $50.
4.		Services related to unearned service revenue in October worth $600 were performed.
5.		Services performed but not recorded at October 31 are $400.
6.		Interest to be accrued at October 31 is $70.
7.		Salaries to be accrued at October 31 are $1,400.