Preparing Adjusting Entries, Trial Balances, Financial Statements, and Closing Entries
The unadjusted trial balance for Brown Inc. follows.
Additional information for accounting adjustments
A yearend count revealed $ of supplies still available.
Annual depreciation expense on the equipment is $
Unpaid and unrecorded salaries is $ at yearend
The note payable calls for annual interest of payable each September The principal amount of the note is not due for several years.
Adjusting Journal Entries Adjusted Trial Balance
Closing Journal Entries
c Prepare the income statement for the year and the balance sheet at yearend.
Note: Do not use negative signs with your answers.
Note: Use negative signs only in the 'Assets' section of the balance sheet for contra asset accounts.
