Adjusting entries from trial balances
The unadjusted and adjusted trial balances for Editorial Services Co. on March 31, 2014,are shown below.
|
Editorial Services Co. Trial Balances March 31, 2014 |
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|
Unadjusted |
Adjusted |
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|
Debit Balances |
Credit Balances |
Debit Balances |
Credit Balances |
|
|
Cash . . |
8 |
8 |
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|
Accounts Receivable |
19 |
22 |
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|
Supplies |
6 |
5 |
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|
Prepaid Insurance . |
10 |
4 |
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|
Land . . |
13 |
13 |
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|
Equipment . |
20 |
20 |
||
|
Accumulated Depreciation— |
4 |
6 |
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|
Accounts Payable . |
13 |
13 |
||
|
Wages Payable |
0 |
1 |
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|
Capital Stock . |
15 |
15 |
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|
Retained Earnings |
31 |
31 |
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|
Dividends . . |
4 |
4 |
||
|
Fees Earned |
37 |
40 |
||
|
Wages Expense |
12 |
13 |
||
|
Rent Expense . |
4 |
4 |
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|
Insurance Expense |
0 |
6 |
||
|
Utilities Expense . . |
2 |
2 |
||
|
Depreciation Expense |
0 |
2 |
||
|
Supplies Expense . |
0 |
1 |
||
|
Miscellaneous Expense |
2 |
2 |
||
|
100 |
106 |
106 |
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Journalize the five entries that adjusted the accounts at March 31, 2014. None of the accounts were affected by more than one adjusting entry.