Question 1: The account balances appearing on the trial balance (below) were taken from the general ledger of Flop's Copy Shop at September 30, 2012.
Additional information for the month of September which has not yet been recorded in the accounts is as follows:
(a) A physical count of supplies indicates $400 on hand at September 30.
(b) The amount of insurance that expired in the month of September was $300.
(c) Depreciation on equipment for September was $500.
(d) Rent owed on the copy shop for the month of September was $400 but will not be paid until July.
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Flop's Copy Shop
Trial Balance
For the Month Ended September 30, 2012
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Account Titles
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Debit
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Credit
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Cash
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$1,000
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Supplies
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1,100
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Prepaid Insurance
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2,200
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Equipment
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24,000
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Accum. Depreciation- Equipment
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$4,500
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Accounts Payable
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2,400
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Notes Payable
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4,000
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Flop's Capital
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15,300
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Flop's Drawings
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2,400
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Service Revenue
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4,900
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Utilities Expense
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400
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Totals
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$31,100
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$31,100
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Instructions:
- Prepare in journal form, without explanations, the end of month adjusting entries for Flop's Copy Shop for the month of September.
- Prepare a partial adjusted trial balance for the accounts provided.
- Prepare in journal form, without explanations, the end of month closing entries for Flop's Copy Shop for the month of September.