ACCT 3110 P3 2 (Adjusting Entries and Financial Statements) Mason Advertising Agency was founded in January
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P3-2 (Adjusting Entries and Financial Statements) Mason Advertising Agency was founded in January
- Presented below are adjusted and unadjusted trial balances as of December 31, 2014.
MASON ADVERTISING AGENCY
Trial Balance
December 31, 2014
Unadjusted
Adjusted
Debit
Credit
Debit
Credit
Cash
11,000
11,000
Accounts Receivable
20,000
23,500
Supplies
8,400
3,000
Prepaid Insurance
3,350
2,500
Equipment
60,000
60,000
Accumulated Depreciation - Equipment
28,000
33,000
Accounts Payable
5,000
5,000
Interest Payable
0
150
Notes Payable
5,000
5,000
Unearned Service Revenue
7,000
5,600
Salaries and Wages Payable
0
1,300
Common Stock
10,000
10,000
Retained Earnings
3,500
3,500
Service Revenue...
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Published On:
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