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Accounting Assignment

The document summarizes trial balance, adjustments, adjusted trial balance, income statement, and balance sheet accounts for a company. Adjustments are made to accounts receivable, supplies, prepaid insurance, depreciation expense, accumulated depreciation, interest payable, and insurance expense. The adjusted trial balance balances at $57,800 for both debits and credits. The income statement shows net income of $6,680, and the balance sheet balances with assets of $50,330 equal to liabilities and equity of $50,330.

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28 views2 pages

Accounting Assignment

The document summarizes trial balance, adjustments, adjusted trial balance, income statement, and balance sheet accounts for a company. Adjustments are made to accounts receivable, supplies, prepaid insurance, depreciation expense, accumulated depreciation, interest payable, and insurance expense. The adjusted trial balance balances at $57,800 for both debits and credits. The income statement shows net income of $6,680, and the balance sheet balances with assets of $50,330 equal to liabilities and equity of $50,330.

Uploaded by

jannatulnisha78
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Adjusted Trial

Account Title Trial Balance Adjustment Balance Income Statement Balance Sheet
Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
Cash 11,400
11,400 11,400
Accounts
5,620
Receivable 530 6,150 6,150
Supplies 1,050
670 380 380
Prepaid Insurance 2,400
600 1,800 1,800
Equipment 30,000
30,000 30,000
Notes Payable
10,000 10,000 10,000
Accounts Payable
12,350 12,350 12,350
Capital
20,000 20,000 20,000
Drawings 600
600 600
Service Revenue
13,620 530 14,150 14,150
Salary Expense 2,200
2,200 2,200
Travel Expense 1,300
1,300 1,300
Rent Expense 1,200
1,200 1,200
Miscellaneous
200
Expense 200 200

Supplies Expense
670 670 670
Depreciation
Expense 1,000 1,000 1,000
Accumulated
Depreciation 1,000 1,000 1,000

Interest Expense
300 300 300
Interest Payable
300 300 300
Insurance Expense
600 600 600
Net Income
6,680 6,680
Net Total 55970 55970 3100 3100 57800 57800 14150 14150 50330 50330
Adjustment entries:
Accounting
Class Assignment

Submitted to:
Md. Shafiqul Islam
Course Instructor,
ACC 101

Submitted by
Jannatul Maua Nisha
Roll: 2019-1-10-042.

East West University

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