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Preparing Adjusting Entries

The document provides an unadjusted trial balance and adjustments for Madelyn Rialubin Travel Agency as of December 31, 2019. The adjustments include prepaid rent of $120,000 being used, office supplies of $36,000 being used, accumulated depreciation increasing by $75,000, salaries payable of $105,000 being recorded, and interest payable of $54,000 being recorded. The adjusted trial balance totals $8,667,000 in debits and credits.

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Rey Arellano
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240 views6 pages

Preparing Adjusting Entries

The document provides an unadjusted trial balance and adjustments for Madelyn Rialubin Travel Agency as of December 31, 2019. The adjustments include prepaid rent of $120,000 being used, office supplies of $36,000 being used, accumulated depreciation increasing by $75,000, salaries payable of $105,000 being recorded, and interest payable of $54,000 being recorded. The adjusted trial balance totals $8,667,000 in debits and credits.

Uploaded by

Rey Arellano
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Madelyn Rialubin Travel Agency

Unadjusted Trial Balance


Dec 31, 2019

Debit Credit
Cash 126,000.00
Accounts Receivable 645,000.00
Prepaid Rent 360,000.00
Office Supplies 63,000.00
Furniture 2,175,000.00
Accumulated Depreciation 435,000.00
Notes Payable 900,000.00
Accounts Payable 285,000.00
Salaries Payable
Interest Payable
Rialubin, Capital 1,680,000.00
Rialubin, Withdrawal 1,200,000.00
Travel Revenues 5,133,000.00
Salaries Expense 3,771,000.00
Rent Expense
Office Supplies Expense
Depreciation Expense
Interest Expense
Miscellaneous Expense 93,000.00

TOTAL 8,433,000.00 8,433,000.00


Adjustments Adjusted Trial Balance
Debit Credit Debit Credit
126,000.00
645,000.00
a.) 120,000.00 240,000.00
b.) 36,000.00 27,000.00
2,175,000.00
c.) 75,000.00 510,000.00
900,000.00
285,000.00
d.) 105,000.00 105,000.00
e.) 54,000.00 54,000.00
1,680,000.00
1,200,000.00
5,133,000.00
d.) 105,000.00 3,876,000.00
a.) 120,000.00 120,000.00
b.) 36,000.00 36,000.00
c.) 75,000.00 75,000.00
e.) 54,000.00 54,000.00
93,000.00

390,000.00 390,000.00 8,667,000.00 8,667,000.00


Cash
Date Explanation PR Debit Credit Balance
126,000.00

Accounts Receivable
Date Explanation PR Debit Credit Balance
645,000.00

Prepaid Rent
Date Explanation PR Debit Credit Balance
360,000.00
Dec 31 120,000.00 240,000.00

Office Supplies
Date Explanation PR Debit Credit Balance
63,000.00
Dec 31 36,000.00 27,000.00

Furniture
Date Explanation PR Debit Credit Balance
2,175,000.00

Accumulated Depreciation
Date Explanation PR Debit Credit Balance
435,000.00
Dec 31 75,000.00 510,000.00
Notes Payable
Date Explanation PR Debit Credit Balance
900,000.00

Accounts Payable
Date Explanation PR Debit Credit Balance
285,000.00

Salaries Payable
Date Explanation PR Debit Credit Balance

Dec 31 105,000.00 105,000.00

Interest Payable
Date Explanation PR Debit Credit Balance

Dec. 31 54,000.00 54,000.00

Rialubin, Capital
Date Explanation PR Debit Credit Balance
1,680,000.00

Rialubin, Withdrawal
Date Explanation PR Debit Credit Balance
1,200,000.00
Travel Revenues
Date Explanation PR Debit Credit Balance
5,133,000.00

Salaries Expense
Date Explanation PR Debit Credit Balance
3,771,000.00
Dec 31 105,000.00 3,876,000.00

Rent Expense
Date Explanation PR Debit Credit Balance

Dec 31 120,000.00 120,000.00

Office Supplies Expense


Date Explanation PR Debit Credit Balance

Dec 31 36,000.00 36,000.00

Depreciation Expense
Date Explanation PR Debit Credit Balance

Dec 31 75,000.00 75,000.00

Interest Expense
Date Explanation PR Debit Credit Balance
Dec. 31 54,000.00 54,000.00

Miscellaneous Expense
Date Explanation PR Debit Credit Balance
93,000.00

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