analyzing and journalizing adjustments galant theater production company unadjusted 642889
Analyzing and journalizing adjustments Galant Theater Production Company unadjusted and adjusted trial balances at December 31, 2012, follow.
GALANT THEATER PRODUCTION COMPANY Adjusted Trial Balance December 31, 2012 |
||||
|
Trial Balance |
Adjusted Trial Balance |
||
Account |
Debit |
Credit |
Debit |
Credit |
Cash |
$3,900 |
|
$3,900 |
|
Accounts receivable |
6,100 |
|
6,900 |
|
Supplies |
1,700 |
|
300 |
|
Prepaid insurance |
2,700 |
|
2,100 |
|
Equipment |
25,000 |
|
25,000 |
|
Accumulated depreciation |
|
$8,800 |
|
$13,200 |
Accounts payable |
|
4,000 |
|
4,000 |
Salary payable |
|
|
|
300 |
Common stock |
|
16,000 |
|
16,000 |
Retained earnings |
|
4,300 |
|
4,300 |
Dividends |
30,500 |
|
30,500 |
|
Service revenue |
|
71,000 |
|
71,800 |
Depreciation expense |
|
|
4,400 |
|
Supplies expense |
|
|
1,400 |
|
Utilities expense |
4,700 |
|
4,700 |
|
Salary expense |
29,500 |
|
29,800 |
|
Insurance expense |
|
|
600 |
|
Total |
$ 104,100 |
$ 104,100 |
$109,600 |
$109,600 |
Requirement
1. Journalize the adjusting entries that account for the differences between the two trial balances.