Adjusting entries
Crazy Mountain Outfitters Co., an outfitter store for fishing treks, prepared the following unadjusted trial balance at the end of its first year of operations:
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Crazy Mountain Outfitters Co. Unadjusted Trial Balance April 30, 2014 |
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Debit Balances |
Credit Balances |
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Cash . |
11,400 |
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Accounts Receivable . |
72,600 |
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Supplies |
7,200 |
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Equipment . . |
112,000 |
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Accounts Payable . . |
12,200 |
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Unearned Fees |
19,200 |
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Capital Stock |
20,000 |
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Retained Earnings . |
117,800 |
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Dividends . . |
10,000 |
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Fees Earned . |
305,800 |
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Wages Expense |
157,800 |
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Rent Expense |
55,000 |
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Utilities Expense |
42,000 |
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Miscellaneous Expense |
7,000 |
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|
475,000 |
475,000 |
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