EX 3-26 Adjusting entries from trial balances

The unadjusted and adjusted trial balances for American Leaf Company on October 31, 2019, follow:

American Leaf Company Trial Balances October 31, 2019 Unadjusted Adjusted Debit   Balances
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 16
Accounts Receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 44
Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 10
Prepaid Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 8
Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 26
Equipment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 40
Accumulated Depreciation—Equipment . . . . . . . . . 8 12
Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 26
Wages Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 2
Les Huff, Capital  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92 92
Les Huff, Drawing   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 8
Fees Earned. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74 80
Wages Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 26
Rent Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 8
Insurance Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 12
Utilities Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 4
Depreciation Expense . . . . . . . . . . . . . . . . . . . . . . . . . . 0 4
Supplies Expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 2
Miscellaneous Expense . . . . . . . . . . . . . . . . . . . . . . . . . 4 4
200 200 212 212

Journalize the five entries that adjusted the accounts at October 31, 2019. None of the accounts were affected by more than one adjusting entry.


Answers:
1. Accounts Receivable6
Fees Earned6
Accrued fees earned.
2. Supplies Expense2
Supplies2
Supplies used.
3. Insurance Expense12
Prepaid Insurance12
Insurance expired.
4. Depreciation Expense4
Accumulated Depreciation—Equipment4
Equipment depreciation.
5. Wages Expense2
Wages Payable2
Accrued wages.