The trial balance for Pioneer Advertising Inc. is shown below.
PIONEER ADVERTISING INC.
Trial Balance
October 31, 2017
Debit Credit
Cash $14,000
Supplies 2,300
Prepaid Insurance 700
Equipment 4,500
Notes Payable $4,600
Accounts Payable 2,100
Unearned Service Revenue 1,200
Common Stock 7,200
Retained Earnings –0–
Dividends 500
Service Revenue 11,600
Salaries and
Wages Expense 3,900
Rent Expense 800
$26,700 $26,700
Assume the following adjustment data.
1. Supplies on hand at October 31 total $700.
2. Expired insurance for the month is $300.
3. Depreciation for the month is $80.
4. Services related to unearned service revenue in October worth $600 were performed.
5. Services performed but not recorded at October 31 are $300.
6. Interest accrued at October 31 is $90.
7. Accrued salaries at October 31 are $1,200.
Prepare the adjusting entries for the items above assuming financial statements are computed each month. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
No. Date Account Titles and Explanation Debit Credit
1. Oct. 31
2. Oct. 31
3. Oct. 3
4. Oct. 31
5. Oct. 31
6. Oct. 31
7. Oct. 31