P3-33A Galant Theater Production Company unadjusted and adjusted trial balances at December 31, 2012, follow.

P3-33A Galant Theater Production Company unadjusted and adjusted trial balances at December 31, 2012, follow.

ACC 205 Week 2 P3-33A - Galant Theatre Production Company

P3-33A Analyzing and journalizing adjustments [15–20 min]

P3-33A Galant Theater Production Company unadjusted and adjusted trial balances at December 31, 2012, follow.

GALAMT THEATER PRODUCTION COMPANY Adjusted Trial Balance December 31, 2012
	Trial balance		Adjusted Trial Balance
Amount	Debit	Credit	Debit	Credit
Cash	$3,900		$3,900
Accounts receivable	6,100		6,900
Supplies	1,700		300
Prepaid insurance	2,700		2,100
Equipment	25,000		25,000
Accumulated depreciation		$8,800		13,200
Accounts payable		4,300		4,300
Salary payable				300
Common stock		16,000		16,000
Retained earnings	30,500		30,500
Service revenue		71,000		71,800
Depreciation expense			4,400
Supplies expense			1,400
Utilities expense	4,700		4,700
Salary expense	29,500		29,800
Insurance expense			600
Total	$104,100	$104,100	$109,600

Requirement
1. Journalize the adjusting entries that account for the differences between the two trial balances.

SOLUTION PREVIEW

Req. 1 P 3-33A

Adjusting Entries Journal

POST . DATE ACCOUNTS AND EXPLANATIONS    REF.          DEBIT            CREDIT  

1. Dec 31 Accounts receivable                                                               800

Service revenue                                                                                       800

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