EX 3-26 Adjusting entries from trial balances
The unadjusted and adjusted trial balances for McWay Services Co. on August 31, 2012, are shown below.
| McWay Services Co. | ||||
| Trial Balance | ||||
| August 31, 2012 | ||||
| Unadjusted | Adjusted | |||
| Debit | Credit | Debit | Credit | |
| Balances | Balances | Balances | Balances | |
| Cash | 8 | 8 | ||
| Accounts Receivable | 19 | 21 | ||
| Supplies | 6 | 5 | ||
| Prepaid Insurance | 10 | 6 | ||
| Land | 13 | 13 | ||
| Equipment | 20 | 20 | ||
| Accumulated Depreciation—Equipment | 4 | 5 | ||
| Accounts Payable | 13 | 13 | ||
| Wages Payable | 0 | 1 | ||
| Chad McWay, Capital | 46 | 46 | ||
| Chad McWay, Drawing | 4 | 4 | ||
| Fees Earned | 37 | 39 | ||
| Wages Expense | 12 | 13 | ||
| Rent Expense | 4 | 4 | ||
| Insurance Expense | 0 | 4 | ||
| Utilities Expense | 2 | 2 | ||
| Depreciation Expense | 0 | 1 | ||
| Supplies Expense | 0 | 1 | ||
| Miscellaneous Expense | 2 | 2 | ||
| 100 | 100 | 104 | 104 | |
Journalize the five entries that adjusted the accounts at August 31, 2012. None of the accounts were affected by more than one adjusting entry.
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