Hello everyone. I got some Accounting Homework. First, it saids to complete a worksheet. I got most of it done but I do not know what goes under the adjustments, adjusting trial balance, income statement, and balance sheet columns of the worksheet.
Here are the secenarios:
1. Supplies on hand total 0.
2. Depreciation is ,000 per quarter.
3. Interest accrued on 6-month note payable, issued January 1, 0.
4. Insurance expires at the rate of 0 per month.
5. Services provided but unbilled at March 31 total 0.
Here is the data:
Cash 11,400 Debit
Accounts Receivable 5,620 Debit
Supplies 1,050 Debit
Prepaid Insurance 2,400 Debit
Equipment 30,000 Debit
Notes Payable 10,000 Credit
Accounts Payable 12,350 Credit
Capital 20,000 Credit
Drawings 600 Debit
Service Revenue 13,620
Salaries Expense 2,200 Credit
Travel Expense 1,300 Debit
Rent Expense 1,200 Debit
Miscellaneous Expense 200 Debit
Total Credit and Debit: 55,970
and then a second question. how would you journalize this worksheet with adjusting entries?
ANY Help or advice will gladly be appreciated. (hopefully from accountants but all are welcome to answer.) thank you