Account pioneer advertising agency inc trial balance

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

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...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online