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 |
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|
|
Trial Balance |
Adjusted Trial Balance |
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|
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.