|161||Accumulated Depreciation – Building||0|
|171||Accumulated Depreciation – Landscaping Equipment||0|
|220||Unearned Landscaping Revenue||30,000|
|310||J. Doe, Capital||$168,550|
|320||J. Doe, Drawings||3,500|
|530||Depreciation Exp – Building||0|
|540||Depreciation Exp – Landscaping Equipment||0|
|Total||$ 250,850||$ 250,850|
You have already journalized and posted routine entries through the month of November and created your Unadjusted Trial Balance (above). The following data have been assembled for adjusting entries.
- Unearned Landscaping Revenue is $5,000 at Nov 30 as $25,000 of the landscaping services were provided in November.
- Depreciation for the building for November is $750.
- Depreciaiton for the Landscaping Equipment is $250.
- The balance in Prepaid Insurance is for a 12 month liability insurance policy purchased on Sept 1 and beginning that day.
- Supplies on hand at Nov 30 is $1750.
- Maple Company has provided $19,000 of landscaping services in November that it has not yet billed for.
- Accrued wages at Nov 30 are $750.
- Journalize each adjusting entry on page 3 of your journal. Post transactions to the ledger.
- Prepare an adjusted trial balance.
- Prepare financial statements for the month of November (Income Statement, Statement of Owner’s Equity, and Classified Balance Sheet only). There weren’t any investments by owner during the month of November.