Prepare unadjusted trail balance and adjusted trail balance

Assignment Help Financial Accounting

Reference no: EM131258191

Cline Attorney At law

July 1, 2015 Cash …………. Debit $ 75,000

Common stock……Credit $ 75,000

July 1, 2015 Supplies……….Debit $1,500

Accounts payable….Credit $ 1,500

July 1, 2015 Prepaid Rent… Debit $ 12,000

Cash…………..Credit $ 12,000

July 2, 2015 Account receivable….Debit $5,500

Legal Revenue …Credit $ 5,500

July 3, 2015 Office Equipment…Debit $12,000

Accounts Payable..Credit $12,000

July 5, 2015 Cash..Debit $9,600

Unearned Fees..Credit $9,600

July 6, 2015 Prepaid Insurance…Debit $1,200

Cash….Credit $1,200

July 7, 2015 Account Receivable Debit $2,500

Legal Revenue Credit $2,500

July 8, 2015 Cash….Debit $3,000

Accounts receivable…Credit $3,000

July 10, 2015 Advertising expense…Debit $450

Cash………..Credit $450

July 12, 2015 Accounts Payable….Debit $2,200

Cash Credit….Credit $2,200

July 14,2015 Accounts Receivable…..Debit $6,700

Legal Revenue …Credit $6,700

July 15, 2015 Salary Expense…..Debit $1,600

Cash….Credit $1,600

July 17,2015 Cash…Debit $1,000

Accounts Receivable…Credit $1,000

July 18, 2015 Supplies…Debit $700

Cash…..Credit $700

July 20, 2015 Telephone expense….Debit $450

Cash……Credit $450

July 23, 2015 Electric expense….Debit $830

Cash…..Credit $830

July 25, 2015 Legal Revenue…..Debit $2,500

Accounts payable. Credit $2,500

July 27,2015 Accounts payable. Debit $1,000

Cash…..Credit $1,000

July 28, 2015 Advertising expense…Debit $500

Cash…Credit $500

July 30, 2015 Cash….Debit $3,000

Accounts Receivable. Credit $3,000

July 30,2015 Salaries expense….Debit $1,600

Cash…………………………..Credit $1,600

July 30, 2015 Dividends…..Debit $200

Cash……..Credit $200

2. Prepare an unadjusted trial balance

3. Prepare the following adjusting entries at July 31:

a. Insurance expired during July is $ 400.

b. Supplies on hand on July 31 are $ 1,475.

c. Depreciation of Office Equipment is $ 250.

d. Accrued receptionist salary on July 31, $100.

e. Rent expired during July is $2,000.

f. Unearned fees earned on July is $2,400.

4. Prepare an adjusted trial balance .

Prepare unadjusted trail balance and adjusted trail balance,

Reference no: EM131258191

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