TAKE HOME ASSIGNMENT

INTRODUCTION OF ACCOUNTING

Chapter : 3
Week : 9
Topic : Adjusting Accounts
Lecturer : Dra. Arum Indrasari, M.Buss., Ak., CA

S3-4A In addition to those accounts listed on the trial balance, the chart of accounts for Cuono
Company also contains the following accounts and account numbers: No. 158 Accumulated
Depreciation—Equipment, No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No.
711 Depreciation Expense, No. 722 Insurance Expense, and No. 732 Utilities Expense.
Other data:
1. Supplies on hand at June 30 are $1,100.
2. A utility bill for $150 has not been recorded and will not be paid until next month.
3. The insurance policy is for a year.
4. $2,500 of unearned service revenue is recognized for services performed at the end of the
month.
5. Salaries of $1,600 are accrued at June 30.
6. The equipment has a 4-year life with no residual value. It is being depreciated at $300 per
month for 48 months.
7. Invoices representing $2,100 of services performed during the month have not been
recorded as of June 30.

Instructions
(a) Prepare the adjusting entries for the month of June. Use J3 as the page number for your
journal.
(b) Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as
beginning account balances and place a check mark in.
(c) Prepare an adjusted trial balance at June 30, 2014.

Introduction of Accounting 1
 A. Make the adjusting journal
June 30 supplies expense 900
Supplies 900
(2,000-1,100)
30 utilities expense 150
Utilities payable 150
30 insurance expense 250
Prepaid insurance 250
(3,000/12)
30 unearned service rev 2,500
Service revenue 2,500
30 salaries expense 1,600
Salaries payable 1,600
30 depreciation expense 300
Accum dep-equipment 300
(14,400/48)
30 Account receivable 2,100
Service revenue 2,100
B.
    cash      
date explanation ref debit credit balance
Jun-30 balance       6,200
account
receivable
date explanation ref debit credit balance
Jun-30 adjusting 6,000
Jun-30 adjusting j3 2,100 8,100
    supplies      
date explanation ref debit credit balance
Jun-30 adjusting       2.000
Jun-30 adjusting j3   900 1.100
prepaid
    insurance      
date explanation ref debit credit balance
Jun-30 adjusting       3.000
Jun-30 adjusting j3   250 2.750
    equipment      
date explanation ref debit   balance
Jun-30 adjusting j3     14.400

Introduction of Accounting 2
 accum-dep
    equipment      
date explanation ref debit credit balance
Jun-30 adjusting j3   300 300

account
    payable      
date explanation ref debit credit balance
Jun-30 adjusting j3     4.700

unearned
    service rev      
date explanation ref debit credit balance
Jun-30 adjusting       4.000
Jun-30 adjusting j3 2500   1.500

salaries
    payable      
date explanation ref debit credit balance
Jun-30 adjusting j3   1600 1.600

utilities
    payable      
date explanation ref debit credit balance
Jun-30 adjusting j3      
share
    capital      
date explanation ref debit credit balance
Jun-30 adjusting j3     20.000

service
    revenue     credit
date explanation ref debit credit balance
Jun-30 adjusting       7.000
Jun-30 adjusting j3   2500 10.400
Jun-30 adjusting j3   2100 12.500
supplies
expense
date explanation ref debit credit balance
Jun-30 adjusting J3 900 900
depreciation
    expense      
date explanation ref debit credit balance
Jun-30 adjusting j3 300   300,000

Introduction of Accounting 3
 salaries
    expense      
date explanation ref debit credit balance
Jun-30 balance   4000   4,000
Jun-30 adjusting j3
insurance 1600   5,600
    expense      
date explanation ref debit credit balance
Jun-30 adjusting j3 250   250
rent
expense
date explanation ref debit credit balance
Jun-30 adjusting j3 1000 1,000

utilities
expense
date explanation ref debit credit balance
Jun-30 adjusting j3 150 150

Introduction of Accounting 4
 C. trial balance

cuono company    
unadjusted trial balance  
30-Jun-14    
debit credit
cash 6,200  
account receivable 6,000  
supplies 2,000  
prepaid insurance 3,000  
equipment 14,400  
account payable   4,700
unearned service revenue   4,000
share capital-ordinary   20,000
service revenue   7,900
salaries and wages expense 4,000  
rent expense 1,000  
  36,600 36,600

cuono company    
adjusted trial balance  
30-Jun-14    
  debit credit
cash 6200  
account receivable 8100  
supplies 1100  
prepaid insurance 2750  
equipment 14400  
accum-dep equipment   300
account payable   4700
unearned service revenue   1500
salaries payable   1600
utilities payable   150
share capital   20000
service revenue   12500
supplies expense 900  
depreciation expense 300  

Introduction of Accounting 5
 insurance expense 250  
salaries expense 5600  
rent expense 1000  
utilities expense 150  
  40750 40750

Introduction of Accounting 6