The Unadjusted Trial Balance of James Business Consulting at December

question 42

Essay

The unadjusted trial balance of James Business Consulting at December 31,2018,and the data for the adjustments follow:
James Business Consulting
Unadjusted Trial Balance
December 31,2018
Data for adjustments:
a.James prepaid 6 months of business insurance on September 30,2018,with coverage beginning on October 1.James treats deferred expenses initially as assets.
b.A physical count of office supplies was made on December 31,2018.This count showed a balance of $4,200 office supplies on hand.
c.On December 31,2018,James received a bill for the November and December advertising in a local newspaper,$800.This bill will be paid on its due date,which is 1/10/2019.
James is preparing financial statements for the quarter ending December 31,2018.
Requirements
1.Journalize the adjusting entries on December 31,2018.
2.Prepare the December 31,2018 adjusted trial balance.Use a proper heading.

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Definitions:

Learning Transfer

The ability of learners to apply the skills, knowledge, and/or attitudes gained in one learning situation to another.

Trainee Involvement

The active participation and engagement of learners in the training process to enhance learning outcomes.

ROI

Return on Investment (ROI) measures the gain or loss generated on an investment relative to the amount of money invested.

Ethical Guideline

A directive that outlines appropriate practices and behaviors to uphold ethical standards in professional or organizational activities.