NoDateGeneral JournalDebit Credit 131-DecSalaries and Wages Expense6,000 Salaries and Wages Payable6,000 231-DecInterest Receivable144 Interest Revenue144 331-DecInterest Expense900 Interest Payable900 431-DecInsurance Expense1,600 Prepaid Insurance1,600 531-DecUnearned Subscription Revenue3,425 Subscription Revenue3,425 631-DecSupplies Expense13,335 Supplies 13,335
AEnding Balance$ 2,100 from Trial Balance Add: Supplies expense$ 2,380 adjusting entry at end of the month $ 4,480 Less: Purchases$ 3,750 January Beginning balance$ 730 BInsurance Expense$ 1,650 Total Months12 Total Insurance Paid$ 19,800 Prepaid insurance is for balance= $14,850/1,650= 9 months Insurance remaining is for 9 months = january is equal to 10 months 2 months in 2020 is covered Insurance was taken 2 months prior to january 2021 Insurance was purchased previous year in Novemebr 2020 CEnding Balance, January 31$ 1,310 From Trial Balance Add: Cash paid for salaries$ 7,080 Sub-total$ 8,390 Less: Salaries and wages expenses$ 7,630 Beginning balance, Dec 31, 2020$ 760 DService revenue in January$ 19,880 From Trial Balance Less: Services performed in January$ 14,445 Balance - Unearned Revenue$ 5,435 Ending balance, January 31, 2021$ 3,350 added to ending balance Beginning Balance, December 31, 2020$ 8,785
Expert's Answer
Chat with our Experts
Want to contact us directly? No Problem. We are always here for you
Your future, our responsibilty submit your task on time.
Order NowGet Online
Assignment Help Services