Answer Happy

Requirement #6: Prepare an adjusted trial balance in the space below. 0 Requirement #4: Prepare adjusting entries using the following information in the General Journal below. Show your calculations! a) One month's rent has expired b) The remaining inventory of supplies is $600 c) The estimated depreciation on equipment is $100. d) The estimated income taxes are $1,200 General Journal Date Description (Account Name) Debit Credit 400 31-Ju Rent Expense ($1200/3) Prepaid Rent 400 1400 31-Jul Supplies Expense ($2000-$600) Supplies 1,400 31-Jul Depreciation Expense 100 Accumulated Depreciation 100 31-Jul Income Taxes Expense 1,200 Income Taxes Payable 1,200 Requirement #5: Post the adjusting entries to the General Ledger T-accounts and compute adjusted balances. Just add to the balances that are already listed. True Consulting Corporation Adjusted Trial Balance July 31 0 Requirement # 3: Prepare a trial balance for July in the space below. True Consulting Corporation Trial Balance July 31 Cash Supplies Equipment Accounts Payable Common Stock Service Revenue Rent Expense Wages Expense Repairs & Maintenance Expense Dividends Net Loss 13,300 2,000 8,000 1,200 1,750 350 700 2,100 29,400 6,500 15,000 7,900 29,400