Account pioneer advertising agency inc trial balance

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Unformatted text preview: rded. 2. Accrued Expenses. Expenses incurred but not yet paid in cash or recorded. Chapter 3-13 LO 4 Identify the major types of adjusting entries. Trial Balance Trial Balance Trial Balance – Each account is analyzed to determine whether it is complete and up­to­date. Account PIONEER ADVERTISING AGENCY INC. Trial Balance October 31, 2008 Debit Credit Cash $ 15,200 Advertising Supplies Prepaid Insurance Office Equipment Notes Payable Accounts Payable Unearned Revenue Common Stock Retained Earnings Dividends 500 Service Revenue Salaries Expense Rent Expense $28,700 Chapter 3-14 2,500 600 5,000 $ 5,000 2,500 1,200 10,000 0 10,000 4,000 900 $ 28,700 LO 4 Identify the major types of adjusting entries. Adjusting Entries for Deferrals Adjusting Entries for Deferrals Deferrals are either: Prepaid expenses or Unearned revenues. Chapter 3-15 LO 5 LO Prepare adjusting entries for deferrals. Prepare Adjusting Entries for “Prepaid Expenses” Adjusting Entries for “Prepaid Expenses” Payment of cash, th...
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