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Make the unadjusted trial balance for solid systems

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Reference no: EM132583304

Question 1: The unadjusted trial balance for Solid Systems as December 31 is provided on the trial balance tab.

Account Title

Debit

 

Credit

!Cash

$

14,255

 

 

!Supplies

 

6,200

 

 

!Prepaid Insurance

 

8,400

 

 

1 Equipment

 

36,400

 

 

!Accounts payable

 

 

 

14,200

!Unearned consulting revenue

 

 

 

9,000

ID. Kelley, Capital

 

 

 

38,000

3D. Kelley, Withdrawals

 

1,200

 

 

!Consulting revenue

 

 

 

8,800

!Rental revenue

 

 

 

400

!Salaries expense

 

2,040

 

 

!Rent expense

 

1,500

 

 

!Utilities expense

 

405

 

 

Total

$

70,400

$

70,400

Information for adjustments is as follows:

  1. As of December 31, employees had earned $1,600 of unpaid and unrecorded salaries. The next payday is January 4, at which time $2,000 of salaries will be paid.
  2. The cost of supplies still available at December 31 is $2,000.
  3. The notes payable requires an interest payment to be made every three months. The amount of unrecorded accrued interest at December 31 is $2,250. The next interest payment, at an amount of $2,700, is due on January 15.
  4. Analysis of the unearned member fees account shows $3,000 remaining unearned at December 31.
  5. In addition to the member fees included in the revenue account balance, the company has earned another $12,300 in unrecorded fees that will be collected on January 31. The company is also expected to collect $13,000 on that same day for new fees earned in January.
  6. Depreciation expense for the year is $23,000.

Reference no: EM132583304

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