Sigmund Travel Services Financial Information
Sigmund Travel Services has completed all its journal entries for the month of April 2016 and posted them to the general ledger. Based on the ledger balances, an unadjusted trial balance has been prepared.
Sigmund Travel Services
Unadjusted Trial Balance
April 30, 2016
Account Titles DR CRCash $32,050Accounts Receivable 9,000Prepaid Insurance 1,200Equipment 15,000Accounts Payable $25,550Unearned Revenue 4,500Bank Loan 1,500Sigmund, Capital 18,000Service Revenue 25,000Interest Expense 50Rent Expense 1,000Salaries Expense 8,000Telephone Expense 250Travel Expense 8,000 Total $74,550 $74,55
The following adjustments must be made at the end of April. Apr 30 The balance of prepaid insurance represents a 12-month policy. One month has been used. Apr 30 Depreciation of equipment for the month is $120. Apr 30 Sigmund Travel Services has earned $1,300 that was previously unearned. Required a) Fill in the unadjusted trial balance on the worksheet and complete the rest of the worksheet. b) Create the journal entries for the adjustments from the worksheet.
Sigmund Travel Services April, 2016 Journal Entries and Trial Balance
Student Name
University
Course
Professor Name
Date
Sigmund Travel Services April, 2016 Journal Entries and Trial Balance
Sigmund Travel Services Trial Balance as at 30 April, 2016
Unadjusted Trial Balance
Adjustments
Adjusted Trial Balance
Account Titles
DR ($)
CR ($)
DR ($)
CR ($)
DR ($)
CR ($)
Cash
32,050
32,050
Accounts Receivable
9,000
9,000
Prepaid Insurance
1,200
100
1,100
Equipment
15,000
15,000
Accounts Payable
25,550
25,550
👀 Other Visitors are Viewing These APA Essay Samples:
-
Fixed, Mixed, and Variable Cost
1 page/≈275 words | 3 Sources | APA | Accounting, Finance, SPSS | Coursework |
-
Balance Sheet for ABC Company
3 pages/≈825 words | 3 Sources | APA | Accounting, Finance, SPSS | Coursework |
-
Ratio Analysis Application: Assessment of ABC Company's Financial Health
3 pages/≈825 words | 3 Sources | APA | Accounting, Finance, SPSS | Coursework |