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Miss Socks & Mr. Fore the owners of Jazz Dance Studio have prepared the unadjusted trial balance for Jazz Dance Studio Limited. They know that before they can prepare their financial statements that adjusting journal entries must be prepared but do not know how to make the adjustments. Knowing that you are taking an accounting course they have come to you for assistance. Miss Socks has provided you with the unadjusted trial balance and has gathered the following information for you:

- depreciation has been calculated for the year but hasn't been recorded Equipment

- $2,500 Furniture

- $600

- on August 1 the company paid $4,500 for the rent for August, September & October

- $625 of interestexpense has been incurred but not paid - the balance of office supplies on August 31, 2020 is $1,900.

-Jazz Dance Studio operates 7 days a week and pays it's employees on Saturday for the week then ended. As August 31 falls on a Friday the company owes its employees for 6 days. The total salary for the week ending September 1, 2020 is $5,250

- On August 1 the company received $1,200 from students for dance fees for August, September & October.

Jazz Dance Studio Limited Unadjusted Trial Balance

August 31, 2020

Debit Credit

Cash 75,700

Accounts receivable 1,850

Prepaid rent 4,500

Office supplies 3,600

Equipment 12,500

Accumulated depreciation - equipment 5,000

Furniture 3,600

Accumulated depreciation - furniture 1,800

Accounts payable 4,950

Salary payable -

Interest payable -

Unearned revenue 1,200

Note payable 25,000

Share capital 10,000

Retained earnings 18,600

Revenue 195,000

Advertising expense 9,750

Bank charges expense 1,080

Depreciation expense -

Interest expense -

Office supplies expense 4,900

Repairs expense 6,270

Rent expense 16,500

Salary expense 121,300

261,550 261,550

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