The unadjusted trial balance for Monty Corp. is shown below. ...
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Accounting
The unadjusted trial balance for Monty Corp. is shown below.
MONTY CORP. Trial Balance October 31, 2017
Debit
Credit
Cash
$15,330
Supplies
2,750
Prepaid Insurance
750
Equipment
4,760
Notes Payable
$4,760
Accounts Payable
2,300
Unearned Service Revenue
1,720
Common Stock
11,510
Retained Earnings
0
Dividends
540
Service Revenue
13,360
Salaries and Wages Expense
4,000
Rent Expense
5,520
$33,650
$33,650
Assume the following adjustment data.
1.
Supplies on hand at October 31 total $690.
2.
Expired insurance for the month is $125.
3.
Depreciation for the month is $60.
4.
As of October 31, services worth $930 related to the previously recorded unearned revenue had been performed.
5.
Services performed but unbilled (and no receivable has been recorded) at October 31 are $260.
6.
Interest expense accrued at October 31 is $85.
7.
Accrued salaries at October 31 are $1,570.
Prepare the adjusting entries for the items above. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)