EX 3-26 Adjusting entries from trial balances
The unadjusted and adjusted trial balances for McWay Services Co. on August 31, 2012, are shown below.
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McWay Services Co. |
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Trial Balance |
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August 31, 2012 |
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Unadjusted |
Adjusted |
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Debit |
Credit |
Debit |
Credit |
|
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Balances |
Balances |
Balances |
Balances |
|
|
Cash |
8 |
8 |
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Accounts Receivable |
19 |
21 |
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Supplies |
6 |
5 |
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Prepaid Insurance |
10 |
6 |
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Land |
13 |
13 |
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Equipment |
20 |
20 |
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Accumulated Depreciation—Equipment |
4 |
5 |
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Accounts Payable |
13 |
13 |
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Wages Payable |
0 |
1 |
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Chad McWay, Capital |
46 |
46 |
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Chad McWay, Drawing |
4 |
4 |
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Fees Earned |
37 |
39 |
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Wages Expense |
12 |
13 |
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Rent Expense |
4 |
4 |
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Insurance Expense |
0 |
4 |
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Utilities Expense |
2 |
2 |
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Depreciation Expense |
0 |
1 |
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Supplies Expense |
0 |
1 |
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Miscellaneous Expense |
2 |
2 |
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|
100 |
100 |
104 |
104 |
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Journalize the five entries that adjusted the accounts at August 31, 2012. None of the accounts were affected by more than one adjusting entry.