Accounting

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Exercise 3-13

The trial balances before and after adjustment for Frinzi Company at the end of its fiscal year are presented below.

FRINZI COMPANY
Trial Balance
August 31, 2014

Before
Adjustment

After
Adjustment

Dr.

Cr.

Dr.

Cr.

Cash

$10,413

$10,413

Accounts Receivable

8,926

9,799

Supplies

2,321

628

Prepaid Insurance

3,957

2,543

Equipment

12,380

12,380

Accumulated Depreciation—Equipment

$ 3,557

$ 4,600

Accounts Payable

5,840

5,840

Salaries and Wages Payable

0

1,432

Unearned Rent Revenue

1,561

797

Owner’s Capital

13,980

13,980

Service Revenue

33,964

34,837

Rent Revenue

10,845

11,609

Salaries and Wages Expense

16,822

18,254

Supplies Expense

0

1,693

Rent Expense

14,928

14,928

Insurance Expense

0

1,414

Depreciation Expense

0

1,043

$69,747

$69,747

$73,095

$73,095

Prepare the adjusting entries that were made. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit

Aug. 31

(To record accrued revenue)

Aug. 31

(To record supplies used)

Aug. 31

(To record expired insurance)

Aug. 31

(To record depreciation)

Aug. 31

(To record accrued salaries)

Aug. 31

(To record rent earned)

Exercise 3-13

The trial balances before and after adjustment for Frinzi Company at the end of its fiscal year are presented below.

FRINZI COMPANY
Trial Balance
August 31, 2014

Before
Adjustment

After
Adjustment

Dr.

Cr.

Dr.

Cr.

Cash

$10,413

$10,413

Accounts Receivable

8,926

9,799

Supplies

2,321

628

Prepaid Insurance

3,957

2,543

Equipment

12,380

12,380

Accumulated Depreciation—Equipment

$ 3,557

$ 4,600

Accounts Payable

5,840

5,840

Salaries and Wages Payable

0

1,432

Unearned Rent Revenue

1,561

797

Owner’s Capital

13,980

13,980

Service Revenue

33,964

34,837

Rent Revenue

10,845

11,609

Salaries and Wages Expense

16,822

18,254

Supplies Expense

0

1,693

Rent Expense

14,928

14,928

Insurance Expense

0

1,414

Depreciation Expense

0

1,043

$69,747

$69,747

$73,095

$73,095

Prepare the adjusting entries that were made. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit

Aug. 31

(To record accrued revenue)

Aug. 31

(To record supplies used)

Aug. 31

(To record expired insurance)

Aug. 31

(To record depreciation)

Aug. 31

(To record accrued salaries)

Aug. 31

(To record rent earned)