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Oriole Company was organized on July 1, 2019. Quarterly financial statements are prepared. The unadjusted and...

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Accounting

Oriole Company was organized on July 1, 2019. Quarterlyfinancial statements are prepared. The unadjusted and adjustedtrial balances as of September 30 are shown as follows.

FIRST Journalize the adjusting entries that were madeTHEN create an income statement, retained earnings, and balancesheet.

Oriole Company
Trial Balance
September 30, 2019

UnadjustedAdjusted
Dr.Cr.Dr.Cr.
Cash$ 8,700$ 8,700
Accounts Receivable10,50011,600
Supplies1,450700
Prepaid Rent2,1501,250
Equipment18,00018,000
Accumulated Depreciation—Equipment$0$     750
Notes Payable9,5009,500
Accounts Payable2,4502,450
Salaries and Wages Payable0720
Interest Payable095
Unearned Rent Revenue1,9001,000
Common Stock21,60021,600
Dividends1,6001,600
Service Revenue17,10018,200
Rent Revenue1,3802,280
Salaries and Wages Expense8,2008,920
Rent Expense1,8502,750
Depreciation Expense750
Supplies Expense750
Utilities Expense1,4801,480
Interest Expense95
$ 53,930$ 53,930$ 56,595$ 56,595

Answer & Explanation Solved by verified expert
4.3 Ratings (693 Votes)
Date General Journal Debit Credit Sep 30 Accounts receivable 1100 Service revenue 1100 To record unbilled service revenue Sep 30 Supplies expense 750 Supplies 750 To record supplies used Sep 30 Prepaid rent 900 Rent expense 900 To record prepaid rent expired Sep 30 Depreciation expense 750 Accumulated    See Answer
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