A140/ACG1022 Section 14 Financial Accounting I – Winter 2013 module 4

assignment_mod_04_2.xlsx

Review the unadjusted trial balance for Smith Construction and the information needed for the month-end adjustments in the 

Excel Template

.

Requirements:

1. Prepare the adjusting entries for the period ending May 31.
2. Prepare the adjusted trial balance for the period ending May 31.

2

>M4 Assignment

s and the information needed for the month-end adjustments follows.

$1,

00

used during the month $800

Smith Construction

Receivable

Supplies 1,500

0

2,000

1,000

101,200

1

Accounts

Debit Credit

2

Smith Construction
31-May
Account Debit Credit

																																																																																																																																		Module 4 Assignment:
The unadjusted trial balance for		Smith Construction
Insurance coverage remaining at May 3	1	0
	Supplies
Depreciation on the equipment was $2,400
Accrued utilities expense was $200 for the month. This will be paid in June
Accrued wages at May 31 were $	1,000
Revenues still unearned at month end were $	2,000
Unadjusted Trial Balance
	31-May
	Account			Debit			Credit
10.	Cash	47,240
12.		Accounts	8,080
13.	Prepaid Insurance		1,500
14.
16.	Equipment	24,000
18.	Tools	1,200
20.	Accounts Payable
22.	Unearned Revenue	7,000
30.	Common Stock	42,500
32.	Dividends	3,900
40.	Service Revenue	51,700
50.	Salary Expense	10,780
52.	Rent Expense
54.	Repair Expense
Total		101,200
Requirements:
Prepare the adjusting entries.
Date	Post Ref.
Prepare the adjusted trial balance.
Adjusted Trial Balance