3p-2 - Name: Problem: Course: Date: P3-2 Adjusting Entries...

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Problem 3-2, Page 1 of 3, 02/24/2010, 07:42:05 Name: Problem: P3-2 Adjusting Entries and Financial Statements Course: Date: MASON ADVERTISING AGENCY Trial Balance December 31, 2010 Unadjusted Adjusted Debit Credit Debit Credit Cash 11,000 11,000 Accounts Receivable 20,000 23,500 Art Supplies 8,400 3,000 Prepaid Insurance 3,350 2,500 Printing Equipment 60,000 60,000 Accumulated Depreciation - Equip 28,000 33,000 Accounts Payable 5,000 5,000 Interest Payable 0 150 Notes Payable 5,000 5,000 Unearned Advertising Revenue 7,000 5,600 Salaries Payable 0 1,300 Common Stock 10,000 10,000 Retained Earnings 3,500 3,500 Advertising Revenue 58,600 63,500 Salaries Expense 10,000 11,300 Insurance Expense 850 Interest Expense 350 500 Depreciation Expense 5,000 Art Supplies Expense 5,400 Rent Expense 4,000 4,000 Totals: $117,100 $117,100 $127,050 $127,050 Instructions: Dec 31 Account Title Amount Account Title Amount Dec 31 Account Title Amount Account Title Amount Dec 31 Account Title Amount Account Title
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This note was uploaded on 02/24/2010 for the course ACCT 4397 taught by Professor Staff during the Spring '08 term at University of Houston.

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3p-2 - Name: Problem: Course: Date: P3-2 Adjusting Entries...

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