Question

Good Note Company specializes in the repair of music equipmentand is owned and operated by Robin Stahl. On November 30, 2016, theend of the current year, the accountant for Good Note Companyprepared an unadjusted trial balance and an adjusted trialbalance.

Good Note Company UNADJUSTED TRIAL BALANCE November 30, 2016ACCOUNT TITLE DEBIT CREDIT 1 Cash 38,080.00 2 Accounts Receivable90,280.00 3 Supplies 11,100.00 4 Prepaid Insurance 14,720.00 5Equipment 290,735.00 6 Accumulated Depreciation-Equipment 94,385.007 Automobiles 128,730.00 8 Accumulated Depreciation-Automobiles54,060.00 9 Accounts Payable 25,760.00 10 Salaries Payable 11Unearned Service Fees 17,410.00 12 Robin Stahl, Capital 321,035.0013 Robin Stahl, Drawing 74,980.00 14 Service Fees Earned 739,500.0015 Salaries Expense 518,000.00 16 Rent Expense 54,365.00 17Supplies Expense 18 Depreciation Expense-Equipment 19 DepreciationExpense-Automobiles 20 Utilities Expense 12,615.00 21 Taxes Expense7,790.00 22 Insurance Expense 23 Miscellaneous Expense 10,755.00 24Totals 1,252,150.00 1,252,150.00 Compare the unadjusted trialbalance to the adjusted trial balance. Journalize the seven entriesthat adjusted the accounts at November 30. None of the accountswere affected by more than one adjusting entry. Refer to the Chartof Accounts for exact wording of account titles.

Adjusted Trial Balance Good Note Company ADJUSTED TRIAL BALANCENovember 30, 2016 ACCOUNT TITLE DEBIT CREDIT 1 Cash 38,080.00 2Accounts Receivable 90,280.00 3 Supplies 1,920.00 4 PrepaidInsurance 3,580.00 5 Equipment 290,735.00

Compare the unadjusted trial balance to the adjusted trialbalance. Journalize the seven entries that adjusted the accounts atNovember 30. None of the accounts were affected by more than oneadjusting entry. Refer to the Chart of Accounts for exact wordingof account titles.