1. Skolnick Co. was organized on April 1, 2010.The company prepares quarterly financial statements. The adjusted trial balance amounts at June 30 are shown below.
|
Debits |
Credits |
||
|
Cash |
$ 6,700 |
Accumulated Depreciation— |
$ 850 |
|
Accounts Receivable |
600 |
Equipment
|
|
|
Prepaid Rent |
900 |
Notes Payable |
5,000 |
|
Supplies |
1,000 |
Accounts Payable |
1,510
|
|
Equipment |
15,000 |
Salaries Payable |
400
|
|
Bob Skolnick, Drawing |
600 |
Interest Payable |
50
|
|
Salaries Expense |
9,400 |
Unearned Rent |
500
|
|
Rent Expense |
1,500 |
Bob Skolnick, Capital |
14,000
|
|
Depreciation Expense |
850 |
Commission Revenue |
14,200
|
|
Supplies Expense |
200 |
Rent Revenue |
800
|
|
Utilities Expense |
510 |
|
|
|
Interest Expense |
50 |
|
|
|
Total debits |
$37,310 |
Total credits |
$37,310
|