View Policies Current Attempt in Progress The trial balance for Skysong, Inc. is shown below....

90.2K

Verified Solution

Question

Accounting

image
image
image
View Policies Current Attempt in Progress The trial balance for Skysong, Inc. is shown below. Skysong, Inc. Trial Balance October 31, 2020 Debit Credit Cash $14,000 Supplies 2,600 Prepaid Insurance 700 Equipment 5,400 Notes Payable $4,000 Accounts Payable 2,500 Unearned Service Revenue 1.900 Common Stock 9.400 Retained Earnings -0- Dividends 300 Service Revenue 10,600 Salaries and Wages Expense 4,500 Rent Expense 900 $28.400 $28,400 Jasbiylinents/6050011?module itern id=14401484 Assume the following adjustment data. 1. Supplies on hand at October 31 total $400. 2. Expired insurance for the month is $300. 3. Depreciation for the month is $80. 4. Services related to uneared service revenue in October worth $400 were performed. 5. Services performed but not recorded at October 31 are $300. 6. Interest accrued at October 31 is $70. 7. Accrued salaries at October 31 are $1,100. Prepare the adjusting entries for the items above assuming financial statements are computed each month. (Credit account titles are aute indented when the amount is entered. Do not indent manually) No. Date Account Titles and Explanation Debit Credit 1. Oct. 31 2. Oct. 31 3 Oct. 31 4 Oct 311 3. Oct. 31 4. Oct. 31 5. Oct. 31 6. Oct. 31 7. Oct. 31 e Textbook and Media List of Accounts Attempts: unlimited

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students