Acct 220 Week 2 Homework Problems

ACCT 220 Week 2 Homework Problems

https://hwguiders.com/downloads/acct-220-week-2-homework-problems/

ACCT 220 Week 2 Homework Problems

Review the unadjusted trial balance below and prepare adjusting journal entries to record the various described items

below. Record in the space provided at the bottom of this spreadsheet. After completing journal entries, complete the

adjusted trial balance below. Lastly complete the income statement, balance sheet and statement of retained earnings.

The balance sheet must balance. The accounting equation is Assets = Liabilities + Equity.

Baltimore Corporation

Unadjusted Trial Balance

January 31, 2016

Debits Credits

Cash $ 37,500 $ –

Accounts receivable 12,410 –

Prepaid insurance 2,400 –

Supplies inventory 7,113 –

Equipment 35,000 –

Accumulated depreciation – 10,000

Accounts payable – 7,569

Salaries payable – –

Interest payable – –

Unearned revenue – 8,500

Loan payable – 11,500

Capital stock – 25,000

Retained earnings, Jan. 1 – 15,457

Revenues – 43,995...