Question

Prepare month end adjusting journal entries and record in the general journal.

Month End Adjustments

Complete the bank reconciliation and record any necessary journal entries.

Adjustment Number

Adjustment Description

 

 

1

Record the expiration of one month’s insurance.

2

Depreciation on Equipment for the month is $300.00.

3

After taking an inventory, it is determined there is $100 of gas and oil on hand at the end of the month.

4

Nick cut the lawn for the Insurance Agency twice during the month (refer to the November 14 business transaction).

5

The interest owed for the month is $150.

6

Complete the bank reconciliation and record any necessary journal entries.

Roberts Lawn Service

 

Unadjusted Trial Balance

 

For the Month ended November 30, 2015

 

 

 

 

 

 

 

 

 

 

 

Debit

Credit

 

 

1

Cash

 

$   10,415.00

 

1

 

2

Accounts Receivable

 

       2,850.00

 

2

 

3

Prepaid Insurance

 

 

3

 

4

Gas and Oil

 

 

4

 

5

Equipment

 

     10,600.00

 

5

 

6

Accounts Payable

 

 

       4,325.00

6

 

7

Notes Payable

 

 

     15,000.00

7

 

8

Unearned Revenue

 

 

          600.00

8

 

9

Roberts, Capital

 

 

       5,000.00

9

 

10

Roberts, Withdrawal

 

       1,500.00

 

10

 

11

Revenue

 

 

       3,750.00

11

 

12

Advertising Expense

 

          800.00

 

12

 

13

Mileage Expense

 

          185.00

 

13

 

14

Gas and Oil Expense

 

          605.00

 

14

 

15

Insurance Expense

 

       1,200.00

 

15

 

16

Supplies Expense

 

            90.00

 

16

 

17

Phone Expense

 

          430.00

 

17

 

18

 

 

 

 

18

 

19

 

 

 

 

19

 

20

 

 

 

 

20

 

21

 

 

 

 

21

 

22

Totals

 

$   28,675.00

$   28,675.00

22

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

             

 



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