Please help me solve this question, Part A only PSA3.3 Auckland Consulting Ltd b
ID: 2508089 • Letter: P
Question
Please help me solve this question, Part A only
PSA3.3 Auckland Consulting Ltd began operations on 1 July 2016. Quarterly financial statements are prepared. The trial balance and adjusted trial balance on 30 September are shown below AUCKLAND CONSULTING LTD Trial balances as at 30 September 2016 UNADJUSTED ADJUSTED No. ACCOUNT NAME 100 Cash 110 Accounts Receivable 120 Prepaid Rent 130 Supplies 150 Equipment 151 Accumulated Depreciation-Equipment 200 Accounts Payable 210 Salaries Payable 220 Interest Payable 230 Rent Rev. Recd in Advance 250 Bank Loan 300 Share Capital 310 Retained Earnings 311 Dividends 400 Commission Revenue 410 Rent Revenue 500 Salaries Expense 510 Rent Expense 520 Depreciation Expense 530 Supplies Expense 540 Electricity Expense 550 Interest Expense DR CR DR CR S4 950 1 200 4 500 1350 45 000 S4 950 19 800 900 45 000 $ 2 250 4 530 4 200 300 1 800 15 000 42 000 S4 530 4 200 15 000 42 oo0 1 800 1 800 3 600 22 200 30 000 32 400 28 200 19 500 2 250 450 1530 300 S124 680 24 000 15 000 1530 $99330 $99 330 SI 24 080 Required a. Journalise the adjusting entries that were madeExplanation / Answer
Date Account Debit credit a Accounts receivable 18600 commission revenue 18600 [being revenuenot yet recorded 19800-1200] b Rent expense 4500 prepaid rent 4500 [Being rent expired] c supplie expense 450 supplies 450 [supplies used 1350-900] d depreciation expense 2250 accumulated depreciation 2250 e `salaries expense 4200 salary payable 4200 [salary accrued but not paid] f Interest expense 300 Interest payable 300 [Interest accrued but not paid] g Rent revenue received in advance 2400 Rent revenue 2400 [revenue earned4200-1800]