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Acct 2301 Final- JKL Company




Question;JKL CompanyWorksheetAccountCashAccounts ReceivableOffice SuppliesPrepaid insuranceOffice EquipmentAccumulated depreciation, office equipmentAccounts PayableInterest payableSalaries PayableUnearned consulting feesLong Term notes payableJ. Logan, CapitalJ. Logan, WithdrawalsConsulting feesUnadjustedTrial BalanceDebitCredit34,00014,00016,0008,54084,00014,00091000018,00052,00040,0005,000123,240Depreciation Expense, office equipmentSalaires ExpenseInterest expenseInsurance expenseRent ExpenseOffice supplies expenseAdvertising ExpenseTotals067,0001,200014,500012,100256,340256,340AdjustmentsLetterDebitACredit8,000HLetter3,000A, H11,000AdjustedTrial BalanceDebitCredit34,00022,0002,0002,96084,00020,00010,0001,0007,00015,00052,00040,0005,000134,2406,00074,0002,2005,58014,50014,00013,000279,240279,240JKL COMPANYWorksheetAccountCashAccounts receivable (A)Office supplies (B)Prepaid insurance ?Office equipmentAccumulated depreciation, Office equipment (D)Accounts payable (E)Interest payable (F)Salaries payable (G)Unearned consulting fees (H)Long-term notes payableJ. Logan, CapitalJ. Logan, WithdrawalsConsulting fees earnedDepreciation expense, Office equipmentSalaries expenseInterest expenseInsurance expenseRent expenseOffice supplies expenseAdvertising expenseTotalsUnadjustedTrial BalanceDebitCredit$34,00014,00016,0008,54084,000$14,0009,1000018,00052,00040,0005,000123,240067,0001,200014,500012,100$256,340 $256,340AdjustmentsDebitCreditAdjustedTrial BalanceDebitCredit$34,00022,0002,0002,96084,000$20,00010,0001,0007,00015,00052,00040,0005,000134,2406,00074,0002,2005,58014,50014,00013,000$279,240 $279,240A six column table for JKL Company is given. The first two columns contain the unadjusted trial balance for the company as of July 31, 2008/ The last two columns contain the adjusted trial balance as of the same date.Analyze the differences between the unadjusted and adjusted trial balances to determine the eight adjustments that likely were made.Show the results of your analysis by inserting these adjustments amounts in the table?s two middle columns. Label each adjustment with a letter A thru HA. Accounts Receivable is associated with what credit account? See also H transactionB. Office Supplies is associated with what expense account?C. Prepaid Insurance is associated with what expense account?D. Accumulated Deprecation, office equipment is associated with expense account?E. Accounts Payable is associated with what expense account?F. Interest Payable is associated with what expense account?G. Salaries Payable is associated with what expense account?H. Unearned consulting fees is associated with what revenue account?A and H is associated with the same credit account.


Paper#42537 | Written in 18-Jul-2015

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