A140/ACG1022 Section 14 Financial Accounting I - Winter 2013 module 4

assignment_mod_04_2.xlsx

M4 Assignment

Module 4 Assignment:
The unadjusted trial balance for Smith Constructions and the information needed for the month-end adjustments follows.
Insurance coverage remaining at May 31 $1,000
Supplies used during the month $800
Depreciation on the equipment was $2,400
Accrued utilities expense was $200 for the month. This will be paid in June
Accrued wages at May 31 were $1,000
Revenues still unearned at month end were $2,000
Smith Construction
Unadjusted Trial Balance
31-May
Account			Debit		Credit
10.	Cash		47,240
12.	Accounts Receivable		8,080
13.	Prepaid Insurance		1,500
14.	Supplies		1,500
16.	Equipment		24,000
18.	Tools		1,200
20.	Accounts Payable				0
22.	Unearned Revenue				7,000
30.	Common Stock				42,500
32.	Dividends		3,900
40.	Service Revenue				51,700
50.	Salary Expense		10,780
52.	Rent Expense		2,000
54.	Repair Expense		1,000
	Total		101,200		101,200
Requirements:
1	Prepare the adjusting entries.
	Date	Accounts				Post Ref.	Debit	Credit
2	Prepare the adjusted trial balance.
	Smith Construction
	Adjusted Trial Balance
	31-May
	Account			Debit		Credit