1. Skolnick Co. was organized on April 1, 2010.The company prepares quarterly financial statements. The adjusted trial balance amounts at June 30 are shown below.
|
Debits
|
Credits
|
|
Cash
|
$ 6,700
|
Accumulated Depreciation-
|
$ 850
|
|
Accounts Receivable
|
600
|
Equipment
|
|
|
Prepaid Rent
|
900
|
Notes Payable
|
5,000
|
|
Supplies
|
1,000
|
Accounts Payable
|
1,510
|
|
Equipment
|
15,000
|
Salaries Payable
|
400
|
|
Bob Skolnick, Drawing
|
600
|
Interest Payable
|
50
|
|
Salaries Expense
|
9,400
|
Unearned Rent
|
500
|
|
Rent Expense
|
1,500
|
Bob Skolnick, Capital
|
14,000
|
|
Depreciation Expense
|
850
|
Commission Revenue
|
14,200
|
|
Supplies Expense
|
200
|
Rent Revenue
|
800
|
|
Utilities Expense
|
510
|
|
|
|
Interest Expense
|
50
|
|
|
|
Total debits
|
$37,310
|
Total credits
|
$37,310
|