90.2K

Verified Solution

Link Copied!

the trial balance before and after adjustment for Sheridan company at October

Maps News Translate The trial balances before and after adjustment for Sheridan Company at October 31, 2021, which is the end of its fiscal year. are as follows: Before Adjustment After Adjustment Debit Credit Debit Credit $9,170 $9,170 Cash Accounts Receivable 8,845 9,395 Supplies 2,520 765 Prepaid Insurance 2,530 3,750 34,145 34,145 Equipment $5,540 Accumulated Depreciation-Equipment $3,285 5,725 5,725 Accounts Payable Notes Payable 38,060 38,060 1,230 Salaries Payable 490 Interest Payable 0 8:21 PM 2/3/2020 DLL News Translate Unearned Revenue 940 1,680 E. Sheridan, Capital 5.525 5,525 E. Sheridan, Drawings 10,075 10,075 Service Revenue 48,050 49,340 2,255 o Depreciation Expense Insurance Expense 1,220 Interest Expense 1,470 1,960 Rent Expense 15,265 15,265 Salaries Expense 17,085 18,315 Supplies Expense 1,755 Totals $102,325 $102,325 $106,850 $106,850 Prepare the adjusting entries that were made. (Credit account titles are automatically indented when amount indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) News Translate Date Account Titles and Explanation Debit Credit Oct. 31 (To accrue revenue for services performed but not billed or collected.) Oct. 31 (To record supplies used.) Oct. (To record insurance expired.) Oct. 31 - 0$ 822 PM 2/3/2020 (To record depreciation expense.) Oct. 31 (To record accrued salaries.) Oct. 31 (To accrue interest expense.) Oct. (To record revenue for services performed.) 8:22 PM 2/3/2020 Mas Prepare Sheridan Company's income statement. SHERIDAN COMPANY Income Statement e Textbook and Media List of Accounts Prepare Sheridan Company's statement of owner's equity. (List items that increase owner's equity first.) SHERIDAN COMPANY Statement of Owner's Equity e Textbook and Media List of Accounts M al Translate Youtube Maps News SHERIDAN COMPANY Balance Sheet Assets pard Liabilities and Owner's Equity 4 824 PM 23/2020 eTextbook and Media List of Accounts Prepare Sheridan Company's statement of owner's equity. (List items that increase owner's equity first.) SHERIDAN COMPANY Statement of Owner's Equity e Textbook and Media List of Accounts

Answer & Explanation Solved by verified expert

See Answer