The trial balance of Sam Landscaping at 30 June 2019 is as follows:
|
Sam Landscaping Trial Balance As at 30 June 2019 |
||
| Account | Debit ($) | Credit ($) |
| Cash | 46,000 | |
| Accounts Receivable | 48,000 | |
| Prepaid insurance | 4,800 | |
| Landscaping Supplies | 12,000 | |
| Equipment | 25,000 | |
| Accumulated Depreciation – Equipment | 4,800 | |
| Accounts Payable | 35,000 | |
| Unearned Service Revenue | 6,000 | |
| Sam L., Capital | 50,500 | |
| Drawings | 3,000 | |
| Service Revenue | 58,000 | |
| Salaries Expense | 13,000 | |
| Miscellaneous Expense | 2,500 | |
| Total | $ 154,300 | $ 154,300 |
Additional information for the period:
a. The insurance was purchased on 1 May 2019, and it covers a period of 24 months.
b. A physical count reveals $4,000 of landscaping supplies are on hand at the end of 30 June
c. Equipment is depreciated at a rate of 20% each year
d. $1,600 unearned service revenue was earned
e. Accrued salaries are $3,600
Required:
Prepare relevant adjusting entries. Ignore narrations.
Check these also:
During May, Byron Bui’s business performed services for a specific customer
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