Glencoe AccountingChapter 18:
Adjustments and the Ten-Column Work SheetHomework PracticeAdjusting Entries Instructions Shown below are the trial balance columns and the adjusted trial balance columns from a work sheet for the year ended December 31, 2010. Download the general journal form by clicking on Accounting Forms from the Student Center. Prepare the entries to record the adjusting entries. Account Name | Trial Balance | Adjusted Trial Balance | | Debit | Credit | Debit | Credit | Cash in Bank | 3,000 | | 3,000 | | Accounts Receivable | 2,300 | | 2,300 | | Merchandise Inventory | 12,000 | | 9,500 | | Supplies | 1,200 | | 300 | | Prepaid Insurance | 2,000 | | 1,200 | | Delivery Equipment | 13,000 | | 13,000 | | Accounts Payable | | 2,500 | | 2,500 | Sales Tax Payable | | 900 | | 900 | Federal Corp. Income Tax Payable | | | | 600 | Capital Stock | | 23,000 | | 23,000 | Retained Earnings | | 5,000 | | 5,000 | Income Summary | | | 2,500 | | Sales | | 14,700 | | 14,700 | Sales Discounts | 500 | | 500 | | Sales Returns and Allowances | 800 | | 800 | | Purchases | 4,000 | | 4,000 | | Purchases Discounts | | 200 | | 200 | Transportation In | 100 | | 100 | | Federal Corp. Income Tax Expense | 2,000 | | 2,600 | | Salaries Expense | 2,500 | | 2,500 | | Insurance Expense | | | 800 | | Utilities Expense | 2,900 | | 2,900 | | Supplies Expense | | | 900 | | | 46,300 | 46,300 | 46,900 | 46,900 |
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