Answer Happy

Fill out the adjusted trial balance with the informationprovided above.
1) In January, Initial stock issuance: 2) January, bought Equipment for $ 63000, 10 years life, $3000 residual value 3) November, paid total utility bills: 4) In January, paid in advance rent for two years: 5) In February, received prepayment from a customer for service to be provided: 6) Dec. 31st 2014, unearned revenue balance 7) In December, Dividend declared: $450,000 $63,000 $3,000 $8,500 $12,000 $42,000 $2,000 $10,000
During the Year JEs Account Name Cash Common stock Equipment Cash Utility expense Cash Prepaid rent Cash Cash Unearned revenue Dividend Dividend payable Adjusting JEs Account Name Depreciation exp-Equip. [(63000 - 3000)/10] Acc. depreciation-Equip. Rent expense (12000/2) Prepaid rent Unearned revenue Revenue Debit Credit 450000 63000 8500 12000 42000 10000 6000 6000 450000 40000 63000 8500 12000 Debit Credit 42000 10000 6000 6000 40000
Account Name Revenue Income summary Income summary Utilities expense Depreciation exp-Equip. Rent expense Income summary Retained earnings Retained earnings Dividends Debit Credit 40000 20500 19500 10000 40000 8500 6000 6000 19500 10000
Account Title 110 Cash 115 A/R 120 Supplies 125 Prepaid Insurance 128 Prepaid Rent 167 Equipment 168 Acc. depreciation-Equip. 201 Accounts payable 203 Interest payable 208 Rent payable 210 Dividend payable 213 Unearned Revenue 251 Long-term notes payable 301 Common Stock 302 Dividend 401 Revenue 612 Depreciation exp-Equip 623 Wages expense 633 Utility expense 643 Rent expense Net Income Adj. Trial Balance Debit Credit