Solution-Prepared the unadjusted trial balance as of end of

Prepared the unadjusted trial balance as of end of december

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Reference no: EM131809537

Tunstall, Inc., a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period on December 31:

Account Titles	Debit		Credit
Cash	$	46,200
Accounts receivable		11,200
Supplies		590
Prepaid insurance		630
Service trucks		16,900
Accumulated depreciation			$	9,100
Other assets		9,260
Accounts payable				2,240
Wages payable
Income taxes payable
Note payable (3				13,000
Common stock (4,100 shares outstanding)				2,026
Additional paid-in capital				18,234
Retained earnings				4,800
Service revenue				68,670
Remaining expenses (not detailed; excludes income tax)		33,290
Income tax expense
Totals	$	118,070	$	118,070

Data not yet recorded at December 31 included:

The supplies count on December 31 reflected $230 in remaining supplies on hand to be used in the next year.
Insurance expired during the current year, $630.
Depreciation expense for the current year, $3,400.
Wages earned by employees not yet paid on December 3, $620.
Income tax expense, $5,880.

3. Record the closing entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Reference no: EM131809537

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Prepared the unadjusted trial balance as of end of december

Reference no: EM131809537

Reference no: EM131809537

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