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Argosy University/ Phoniex University/
Nov-2005 - Oct-2011

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Professor
Phoniex University
Oct-2001 - Nov-2016

Category > Accounting Posted 05 Aug 2017 My Price 5.00

American Leaf Company

The unadjusted and adjusted trial balances for American Leaf Company on October 31, 2016, follow:

American Leaf Company Trial Balances

october 31, 2016

Unadjusted Adjusted

Debit Balances

Credit Balances

Debit Balances

Credit Balances

Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	16		16
Accounts Receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . .	38		44
Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	12		10
Prepaid Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	20		8
Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	26		26
Equipment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	40		40
Accumulated Depreciation—Equipment . . . . . . . . .		8		12
Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .		26		26
Wages Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .		0		2
Common Stock. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .		20		20
Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . .		72		72
Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	8		8
Fees Earned. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .		74		80
Wages Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	24		26
Rent Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	8		8
Insurance Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	0		12
Utilities Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	4		4
Depreciation Expense . . . . . . . . . . . . . . . . . . . . . . . . . .	0		4
Supplies Expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	0		2
Miscellaneous Expense . . . . . . . . . . . . . . . . . . . . . . . . .	4		4
	200	200	212	212

Journalize the five entries that adjusted the accounts at October 31, 2016. None of the accounts were affected by more than one adjusting entry.

Answers

Maurice Tutor

(5)

Status NEW Posted 05 Aug 2017 12:08 AM My Price 5.00

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