Solved by verified expert :jkl compant
JKL COMPANY
Worksheet
Unadjusted
Adjusted
Trial
Balance
Adjustments
Trial
Balance
Account
Debit
Credit
Debit
Credit
Debit
Credit
Cash
$34,000
$34,000
Accounts receivable (A)
14,000
22,000
Office supplies (B)
16,000
2,000
Prepaid insurance ©
8,540
2,960
Office equipment
84,000
84,000
Accumulated
depreciation, Office equipment (D)
$14,000
$20,000
Accounts payable (E)
9,100
10,000
Interest payable (F)
0
1,000
Salaries payable (G)
0
7,000
Unearned consulting fees
(H)
18,000
15,000
Long-term notes payable
52,000
52,000
J. Logan, Capital
40,000
40,000
J. Logan, Withdrawals
5,000
5,000
Consulting fees earned
1,23,240
1,34,240
Depreciation expense, Office
equipment
0
6,000
Salaries expense
67,000
74,000
Interest expense
1,200
2,200
Insurance expense
0
5,580
Rent expense
14,500
14,500
Office supplies expense
0
14,000
Advertising expense
12,100
13,000
Totals
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A six column
table for JKL Company is given. The
first two columns contain the unadjusted trial balance for the company as of
July 31, 2008/ The last two columns contain the adjusted trial balance as of
the same date.
Analyze the
differences between the unadjusted and adjusted trial balances to determine
the eight adjustments that likely were made.
Show the
results of your analysis by inserting these adjustments amounts in the
table’s two middle columns. Label each
adjustment with a letter A thru H
A. Accounts
Receivable is associated with what credit account? See also H transaction
B. Office Supplies is associated with what
expense account?
C. Prepaid Insurance is associated with what
expense account?
D.
Accumulated Deprecation, office equipment is associated with expense account?
E. Accounts Payable is associated with what
expense account ?
F. Interest Payable is associated with what
expense account?
G. Salaries Payable is associated with what
expense account?
H. Unearned
consulting fees is associated with what revenue account?
A and H is associated with the same
credit account.
