{"id":53108,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/accounting-adjusted-trial-balance"},"modified":"2017-08-16T12:56:31","modified_gmt":"2017-08-16T12:56:31","slug":"accounting-adjusted-trial-balance","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/accounting-adjusted-trial-balance\/","title":{"rendered":"Accounting Adjusted trial balance"},"content":{"rendered":"<p><b>Hi. The assignment needs the excel sheet filled out completely. I&#8217;ve provided the template. Here is the problem:<\/b><\/p>\n<p>For this assignment, you are required to present the seven correct journal entries in an Excel spreadsheet.<\/p>\n<p>Linda Ace started her own consulting firm, Modine Consulting, on May 1, 2008. The trial balance at May 31 is as detailed below.<\/p>\n<p>MODINE CONSULTINGTrial BalanceMay 31, 2008<\/p>\n<p>AccountNumber<\/p>\n<p>Debit<\/p>\n<p>Credit<\/p>\n<p>101<\/p>\n<p>Cash<\/p>\n<p>$7,700<\/p>\n<p>112<\/p>\n<p>Accounts Receivable<\/p>\n<p>4,000<\/p>\n<p>126<\/p>\n<p>Supplies<\/p>\n<p>1,500<\/p>\n<p>130<\/p>\n<p>Prepaid Insurance<\/p>\n<p>4,800<\/p>\n<p>149<\/p>\n<p>Office Furniture<\/p>\n<p>9,600<\/p>\n<p>201<\/p>\n<p>Accounts Payable<\/p>\n<p>$3,500<\/p>\n<p>209<\/p>\n<p>Unearned Service Revenue<\/p>\n<p>&nbsp;&nbsp; 3,000<\/p>\n<p>301<\/p>\n<p>L. Ace, Capital<\/p>\n<p>19,100<\/p>\n<p>400<\/p>\n<p>Service Revenue<\/p>\n<p>6,000<\/p>\n<p>726<\/p>\n<p>Salaries Expense<\/p>\n<p>3,000<\/p>\n<p>729<\/p>\n<p>Rent Expense<\/p>\n<p>1,000<\/p>\n<p>In addition to those accounts listed on the trial balance, the chart of accounts for Modine Consulting also contains the following accounts and account numbers: No. 150 Accumulated Depreciation \u2013 Office Furniture; No. 229 Travel Payable; No. 212 Salaries Payable; No. 717 Depreciation Expense; No. 722 Insurance Expense; No. 736 Travel Expense; and No. 631 Supplies Expense.<\/p>\n<p>Other data:<\/p>\n<ol>\n<li>$500 worth of supplies has been used during the month.<\/li>\n<li>Travel expenses incurred, but not payed, on May 31, 2008 are $200.<\/li>\n<li>The insurance policy is for two years.<\/li>\n<li>$1,000 of the balance in the unearned service revenue account remains unearned at the end of the month.<\/li>\n<li>May 31 is a Wednesday, and employees are paid on Fridays. Modine Consulting has two employees, who are paid $700 each for a five-day work week.<\/li>\n<li>The office furniture has a five-year life with no salvage value. It is being depreciated at $160 per month for 60 months.<\/li>\n<li>Invoices representing $1,000 of services performed during the month have not been recorded as of May 31.<\/li>\n<\/ol>\n<p><b>Instructions:<\/b><\/p>\n<p>In Excel, following the six-column spreadsheet format used for the company Fast Forward in Chapter 3 of textbook, add the company name, the date of the statement, and today\u2019s date and then enter: (a) the debits and credits for the unadjusted trial balance for May 31; (b) the debits and credits adjustments at the end of May 31; and (c) the total debits and credits of the adjusted trial balance for the month of May. Label each adjustment&nbsp;A&nbsp;through&nbsp;G.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hi. The assignment needs the excel sheet filled out completely. I&#8217;ve provided the template. Here is the problem: For this assignment, you are required to present the seven correct journal entries in an Excel spreadsheet. Linda Ace started her own <a href=\"https:\/\/www.benedictsol.com\/blogs\/accounting-adjusted-trial-balance\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-53108","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/53108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=53108"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/53108\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=53108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=53108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=53108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}