Prepare an Adjusted Trial Balance Based on the Following Adjustment $\quad$

question 104

Essay

Prepare an adjusted trial balance based on the following adjustment data and the unadjusted trial balance. $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$$\text {Tudhope Plumbing}$
$\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$$\text {Unadjusted Trial Balance}$
$\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$$\text {December 31, 2019}$
$\begin{array}{lrr} & \text { Debit } & \text { Credit } \\\text { Cash } & \$ 12,000 & \\\text { Accounts receivable } & 20,500 & \\\text { Office supplies } & 9,500 & \\\text { Prepaid insurance } & 10,200 & \\\text { Equipment } & 80,500 & \\\text { Accum. amort -equipment } & & \$ 30,900 \\\text { Accounts payable } & & 15,500 \\\text { Unearned service revenue } & & 20,600 \\\text { Mike Tudhope, Capital } & & 80,200 \\\text { Mike Tudhope, Withdrawals } & 20,600 & \\\text { Service revenue } & & 63,700 \\\text { Salary expense } & 30,600 & \\\text { Advertising expense } & 15,400 & \\\text { Utilities expense } & 9,900 & \\\text { Miscellaneous expense } & 1,700 & \\\text { Total } & \$ 210,900 & \$ 210,900\end{array}$ Adjustment data:
a)Office supplies on hand on December 31, 2019, amount to $4,600.
b)During the year, $5,400 of prepaid insurance expired.
c)Amortization on equipment for the year is $12,400.
d)Unearned service revenue on December 31, 2019, amounts to $6,800.
e)Salaries owed to employees on December 31, 2019, amount to $3,300.

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Definitions:

Just-In-Time Manufacturing

A production method aimed at reducing inventory costs by receiving goods only as they are needed in the production process.

Inventory

The total amount of goods and materials held by a company for the purpose of resale or production.

Produces

Engages in the act of making, manufacturing, or creating goods and services for sale or distribution.

Cost of Goods Manufactured

The total production cost of goods completed and transferred out of the work-in-progress inventory during a specific period.