Kirk Enterprises offers rug cleaning services to business clients. Below is the trial balance for Kirk Enterprises, which was prepared on the end-of-period spreadsheet work sheet) for the year ended July 31. Enter the adjustment data in the work sheet for the transactions shown below and place the balances in the Adjusted Trial Balance columns.
a) The equipment is estimated to last for 5 years with no salvage value. The asset will be depreciated evenly over its useful life. Record one month's depreciation.
b) Accrued wages, $2.
c) Unused supplies on hand, $8.
d) Of the unearned revenue, 75% has been earned.
e) Unexpired insurance remaining at the end of the month, $9.

Question

Kirk Enterprises offers rug cleaning services to business clients. Below is the trial balance for Kirk Enterprises, which was prepared on the end-of-period spreadsheet work sheet) for the year ended July 31.  Enter the adjustment data in the work sheet for the transactions shown below and place the balances in the Adjusted Trial Balance columns.
a) The equipment is estimated to last for 5 years with no salvage value. The asset will be depreciated evenly over its useful life. Record one month's depreciation.
b) Accrued wages, $2.
c) Unused supplies on hand, $8.
d) Of the unearned revenue, 75% has been earned.
e) Unexpired insurance remaining at the end of the month, $9.

Quizplus · Accepted Answer

The Answer of Kirk Enterprises offers rug cleaning services to business clients. Below is the trial balance for Kirk Enterprises, which was prepared on the end-of-period spreadsheet work sheet) for the year ended July 31.  Enter the adjustment data in the work sheet for the transactions shown below and place the balances in the Adjusted Trial Balance columns.
a) The equipment is estimated to last for 5 years with no salvage value. The asset will be depreciated evenly over its useful life. Record one month's depreciation.
b) Accrued wages, $2.
c) Unused supplies on hand, $8.
d) Of the unearned revenue, 75% has been earned.
e) Unexpired insurance remaining at the end of the month, $9.

Kirk Enterprises Offers Rug Cleaning Services to Business Clients