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Category > Management Posted 20 Feb 2018 My Price 9.00

Vilardi Company

22.       The trial balance and information for year-end adjustments for Vilardi Company are as follows:

Vilardi Company

Trial Balance

December 31, 20--

Account Title

Debit

Credit

Cash

15,700

  

Accounts Receivable

9,400

  

Supplies

6,000

  

Prepaid Insurance

1,500

  

Equipment

50,000

  

Accumulated Depreciation¾Equipment

  

10,000

Accounts Payable

  

5,400

Wages Payable

    

Vilardi, Capital

  

29,460

Vilardi, Drawing

1,500

  

Service Fees

  

63,000

Wages Expense

15,100

  

Rent Expense

7,800

  

Supplies Expense

    

Utilities Expense

860

  

Insurance Expense

    

Depreciation Expense¾Equipment

_______

_______
 

107,860

107,860

a.

Supplies on hand at year-end amounted to $420.

b.

The equipment costing $50,000 has an expected life of five years and no salvage value. Vilardi uses straight-line depreciation.

c.

A premium of $1,500 for a one-year insurance policy was paid on November 1.

d.

Wages earned by employees but not paid by year-end amounted to $900.

Prepare the necessary year-end adjusting entries using the information above.

JOURNAL

30 pts.

  
 

Date

Description

Post

Ref.

Debit

Credit
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             

 

Answers

Maurice Tutor
(5)
Status NEW Posted 20 Feb 2018 06:02 PM My Price 9.00

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