Question - Adjusting Entries from Trial Balances
The unadjusted and adjusted trial balances for McWay Services Co. on August 31, 2012, are shown below.
|
McWay Services Co.Trial Balance August 31, 2012
|
|
Unadjusted
|
Adjusted
|
|
Debit Balances
|
Credit Balances
|
Debit Balances
|
Credit Balances
|
|
Cash
|
318
|
|
318
|
|
|
Accounts Receivable
|
757
|
|
840
|
|
|
Supplies
|
239
|
|
179
|
|
|
Prepaid Insurance
|
385
|
|
231
|
|
|
Land
|
528
|
|
528
|
|
|
Equipment
|
813
|
|
813
|
|
|
Accumulated Depreciation - Equipment
|
|
163
|
|
266
|
|
Accounts Payable
|
|
518
|
|
518
|
|
Wages Payable
|
|
0
|
|
22
|
|
Capital Stock
|
|
1,329
|
|
1,329
|
|
Retained Earnings
|
|
500
|
|
500
|
|
Dividends
|
165
|
|
165
|
|
|
Fees Earned
|
|
1,491
|
|
1,574
|
|
Wages Expense
|
477
|
|
499
|
|
|
Rent Expense
|
159
|
|
159
|
|
|
Insurance Expense
|
0
|
|
154
|
|
|
Utilities Expense
|
80
|
|
80
|
|
|
Depreciation Expense
|
0
|
|
103
|
|
|
Supplies Expense
|
0
|
|
60
|
|
|
Miscellaneous Expense
|
80
|
|
80
|
|
|
4,001
|
4,001
|
4,209
|
4,209
|
Journalize the five entries that adjusted the accounts at August 31, 2012. None of the accounts were affected by more than one adjusting entry.