Question

Maple Moving Company has provided you their unadjusted account balances to before year-end adjustments. The Controller has asked you to prepare the Adjusted Trial Balance and has provided you with further year end information.

Use the information included in the Excel Simulation and the Excel functions described below to complete the task.
On December 31,2016, Maple Moving Company had the following balances before year-end adjustments :
Cash 62500
Accounts Receivable 51000
Supplies 67600
Trucks 176000
Accumulated Depreciation 17600
Accounts Payable 37500
Interest Payable -
Wages Payable -
Unearned Revenue 6600
Notes Pavable 100,000
Common Stock 66000
Retained Earnings 23400
Service Revenue 167000
Wages Expense 61000
Supplies Expense -
Depreciation Expense -
Interest Expense -
Required:
Use the unadjusted account balances above and the following year-end data to 3 determine adjusted account balances and propare an adjusted trial balance. Use the unadjusted account balances above and the following year-end data to determine adjusted account balances and prapare an adjusted trial balance.

Answer 1

Question Completion:

Interest owed but not yet paid: 10,800

Supplies on hand: 15,000

Truck depreciation expense 35,200

Unpaid wages earned by employees: 3,500

Unearned revenue that has been earned: 2,000

Answer:

Maple Moving Company

Trial Balance

As of December 31, 2016

Unadjusted Adjustments Adjusted

Trial Balance Trial Balance

DR. CR. DR. CR. DR. CR.

Cash 62,500 62,500

Accounts Receivable 51,000 51,000

Supplies 67,600 52,600 15,000

Trucks 176,000 176,000

Accumulated Depreciation 17,600 35,200 52,800

Accounts Payable 37,500 37,500

Interest Payable - 10,800 10,800

Wages Payable - 3,500 3,500

Unearned Revenue 6,600 2,000 4,600

Notes Payable 100,000 100,000

Common Stock 66,000 66,000

Retained Earnings 23,400 23,400

Service Revenue 167,000 2,000 169,000

Wages Expense 61,000 3,500 64,500

Supplies Expense - 52,600 52,600

Depreciation Expense - 35,200 35,200

Interest Expense - 10,800 10,800

Totals $418,100 $418,100 $104,100 $104,100 $467,600 $467,600

Step-by-step explanation:

a) Unadjusted Trial Balance

As of December 31, 2016

Cash 62500

Accounts Receivable 51000

Supplies 67600

Trucks 176000

Accumulated Depreciation 17600

Accounts Payable 37500

Interest Payable -

Wages Payable -

Unearned Revenue 6600

Notes Payable 100,000

Common Stock 66000

Retained Earnings 23400

Service Revenue 167000

Wages Expense 61000

Supplies Expense -

Depreciation Expense -

Interest Expense -