ACC 151 Ch 03 In-Class Comp Problem.pdf

ACC 151 Ch 03 In-Class Comp Problem.pdf - Orange Financial...

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ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Cash 8,300 Accounts receivable 1,400 Adjustments: DR CR Prepaid rent 3,000 Supplies 2,200 Furniture 54,000 Acc. Depreciation- Furniture 3,200 Accounts payable 3,600 Salary payable Common stock 13,000 Retained earnings 29,070 Dividends 3,900 Service revenue 27,400 Salary expense 3,000 Rent expense Utilities expense 470 Depreciation expense Supplies expense 76,270 76,270 Requirement #1: Prepare the adjusted trial balance of Orange Financial Services, Inc. as of December 31, 2017 Adjustment data at December 31, 2017 includes the following: a. Accrued service revenue( earned but unrecorded & unpaid) at December 31, $3,960. b. Prepaid rent expired during the month. The unadjusted prepaid balance of $3,000 relates to the period December 1, 2017, through
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