I updated it, sorry about that. Is this right? I left 4 and 9 out. My balance sh
ID: 2340587 • Letter: I
Question
I updated it, sorry about that. Is this right? I left 4 and 9 out. My balance sheet doesn't balance at the end though so I don't know what I did wrong
Unadjusted Trial Balance December 31, 2018 Trial Balance Adjusted Trial Balance Income Statement Balance Sheet count Title Debit Debit 4,900 ,000 5,200 ,300 5,200 counts receivable S,200 ,800 ,800 Prepaid insuranca 74,400 cumulated dapreciation Interest payabla 1,300 tilitias Payabla 7,000 | 30,800 30,800 27,900 27,900 93,1003 1,200 94,300 33,700 4,200 4,600 4,150 8,900 4,800 4,150 8,900 ties expense 50 6,500 Net Income 34,450 94,300 34,450 95,550 14,650 189,850 189,850 9,850 130,000Explanation / Answer
Salary payable = $7000 x 3/5 = $4200
No entry is recorded for #9 since it is not a transaction resulting in a change in the financial position of Elias. The same will be recorded when services are performed or cash received.
Account Title Unadjusted Trial Balance JE# Adjustments Adjusted Trial Balance Income Statement Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 4900 2 1300 3600 3600 Accounts receivable 4000 3 1200 5200 5200 Office Supplies 5200 5 2800 2400 2400 Prepaid insurance 2200 1 400 1800 1800 Building 74400 74400 74400 Accumulated depreciation 18800 6 8500 27300 27300 Land 13600 13600 13600 Accounts payable 19500 19500 19500 Interest payable 8800 8800 8800 Salary payable 1300 2, 4 1300 4200 4200 4200 Utilities payable 8 150 150 150 Unearned revenue 7000 7 700 6300 6300 Elias, capital 30800 30800 30800 Elias, drawing 27900 27900 27900 Service revenue 93100 3, 7 1900 95000 95000 Salary expense 32400 4 4200 36600 36600 Depreciation expense 6 8500 8500 8500 Insurance expense 4200 1 400 4600 4600 Utilities expense 4000 8 150 4150 4150 Supplies expense 6500 5 2800 9300 9300 Net income 31850 31850 Total 179300 179300 19250 19250 192050 192050 95000 95000 128900 128900