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

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 -