The trial balances before and after adjustment for Matthews Company at the end of its fiscal year are presented on the next page.
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MATTHEWS COMPANY |
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Trial Balance |
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|
August 31, 2012 |
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|
Dr. |
Cr. |
Dr. |
Cr. |
|
|
Cash |
10,400 |
$10,400 |
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|
Accounts Receivable |
8,800 |
10,800 |
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|
Supplies |
2,300 |
900 |
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|
Prepaid Insurance |
4,000 |
2,500 |
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|
Equipment |
14,000 |
14,000 |
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|
Accumulated Depreciation—Equipment |
$ 3,600 |
$ 4,500 |
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|
Accounts Payable |
5,800 |
5,800 |
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|
Salaries and Wages Payable |
–0– |
1,100 |
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|
Unearned Rent Revenue |
1,500 |
600 |
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|
Owner’s Capital |
15,600 |
15,600 |
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|
Service Revenue |
34,000 |
36,000 |
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|
Rent Revenue |
11,000 |
11,900 |
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|
Salaries and Wages Expense |
17,000 |
18,100 |
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|
Supplies Expense |
–0– |
1,400 |
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|
Rent Expense |
15,000 |
15,000 |
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|
Insurance Expense |
–0– |
1,500 |
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|
Depreciation Expense |
–0– |
900 |
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|
$71,500 |
$71,500 |
$75,500 |
$75,500 |
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Instructions
Prepare the adjusting entries that were made.