Adjusting entries
Electro Repairs & Service, an electronics repair store, prepared the unadjusted trial balance shown below at the end of its first year of operations.
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Electro Repairs & Service Unadjusted Trial Balance June 30, 2014 |
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Debit Balances |
Credit Balances |
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Cash . |
13,800 |
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Accounts Receivable . |
90,000 |
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Supplies |
21,600 |
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Equipment . . |
154,800 |
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Accounts Payable . . |
21,000 |
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Unearned Fees |
24,000 |
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Capital Stock |
40,000 |
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Retained Earnings . |
122,000 |
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Dividends |
18,000 |
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Fees Earned . |
393,000 |
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Wages Expense |
126,000 |
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Rent Expense |
96,000 |
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Utilities Expense |
69,000 |
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Miscellaneous Expense |
10,800 |
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|
600,000 |
600,000 |
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