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Acct 301 Worksheet

This unadjusted trial balance and adjusting entries document is for Alonzo Institute. It shows account balances before and after adjustments. The key accounts include cash, accounts receivable, various expenses, common stock, retained earnings, tuition and training fees earned, and net income. After adjustments, the adjusted trial balance balances to $344,600 on both sides in preparation for an income statement and balance sheet.

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110 views3 pages

Acct 301 Worksheet

This unadjusted trial balance and adjusting entries document is for Alonzo Institute. It shows account balances before and after adjustments. The key accounts include cash, accounts receivable, various expenses, common stock, retained earnings, tuition and training fees earned, and net income. After adjustments, the adjusted trial balance balances to $344,600 on both sides in preparation for an income statement and balance sheet.

Uploaded by

api-355720477
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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ALON

Unadjusted Trial Balance


Accounts Debits Credits
Cash 60,000
Accounts Receivable -
Teaching Supplies 70,000
Prepaid Insurance 19,000
Prepaid Rent 3,800
Professional Library 12,000
Accumulated depreciation - Professional Library 2,500
Equipment 40,000
Accumulated depreciation - Equipment 20,000
Accounts Payable 11,200
Salaries Payable -
Unearned Training Fees 28,600
Common Stock 11,000
Retained Earnings - 60,500
Dividends 20,000
Tutition fees earned 129,200
Training fees earned 68,000
Depreciation expense - Professional library
Depreciation expense - Equipment
Salaries Expense 44,200
Insurance Expense
Rent Expense 29,600
Teaching Supplies expense
Advertising Expense 19,000
Utilities Expense 13,400
Totals 331,000 331,000
Net Income
ALONZO INSTITUE
Adjusting Entries Adjusted Trial Balance Income Statement
Debits Credits Debits Credits Debits
60,000 -
5,750 5,750 -
50,000 20,000
9,500 9,500
3,800 - -
12,000 -
2,400 - 4,900
40,000 -
5,000 - 25,000
- 11,200
450 - 450
28,600 - -
- 11,000
- 60,500
20,000 -
5,750 - 134,950
28,600 - 96,600
2,400 2,400 - 2,400
5,000 5,000 - 5,000
450 44,650 - 44,650
9,500 9,500 - 9,500
3,800 33,400 - 33,400
50,000 50,000 - 50,000
19,000 - 19,000
13,400 - 13,400
105,500 105,500 344,600 344,600 177,350
Income Statement Balance Sheet
Credits Debits Credits
60,000 -
5,750 -
20,000 -
9,500 -
- -
12,000 -
- 4,900
40,000 -
- 25,000
- 11,200
- 450
- -
- 11,000
- 114,700
20,000 -
134,950
96,600

231,550 167,250 167,250


54,200

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