FULL NAME:

CLASS:
CODE:
GROUP:
NO:
CHAPTER 3: THE ADJUSTING PROCESS
Step 4: Journal (Adjusting)

Journal Page 1
Date Description Post. Debit Credit
Adjusting Entries Ref.
April. 30 Supplies Expense 5,820
Supplies 5,820
(Recorded supplies used:
$7,200 - $1,380 = $5,820)
April. 30 Accounts Receivable 3,900
Fees Earned 3,900
(Recorded fees earned but unbilled)

April. 30 Depreciation Expense-Equipment 3,000

Accumulated Depreciation-Equipment 3,000
(Recorded depreciation expense on
equipment)
April. 30 Wages Expense 2,475
Wages Payable 2,475
(Recorded unpaid wages)

April. 30 Unearned Fees 14,140

Fees Earned 14,140
(Recorded fees earned)
FULL NAME:
CLASS:
CODE:
GROUP:
NO:
Step 5: Ledger (Adjusting)

Account Account
Cash No.

Date Explanation Ref. Debit Credit Balance

Debit Credit
Beginning 11,400 $11,400

Account Account
Accounts No.
Receivable

Date Explanation Ref. Debit Credit Balance

Debit Credit
Beginning 72,600 72,600
April. 30 Adjusting 1 3,900 $76,500

Account Account
Accounts No.
Payable

Date Explanation Ref. Debit Credit Balance

Debit Credit
Beginning 12,200 $12,200

Account Account
Wages No.
Payable

Date Explanation Ref. Debit Credit Balance

Debit Credit
April. 30 Adjusting 1 2,475 $2,475

Account Account
Fees Earned No.

Date Explanation Ref. Debit Credit Balance

Debit Credit
FULL NAME:
CLASS:
CODE:
GROUP:
NO:
Beginning 305,800 305,800
April. 30 Adjusting 1 18,040 $323,840

Account Account
Unearned No.
Fees

Date Explanation Ref. Debit Credit Balance

Debit Credit
Beginning 19,200 19,200
April. 30 Adjusting 1 14,140 $5,060

Account Account
Depreciation No.
Expense-
Equipment

Date Explanation Ref. Debit Credit Balance

Debit Credit
April. 30 Adjusting 1 3,000 $3,000

Account Account
Accumulated No.
Depreciation-
Equipment

Date Explanation Ref. Debit Credit Balance

Debit Credit
April. 30 Adjusting 1 3,000 $3,000

Account Account
Supplies No.

Date Explanation Ref. Debit Credit Balance

Debit Credit
Beginning 7,200 7,200
FULL NAME:
CLASS:
CODE:
GROUP:
NO:
April. 30 Adjusting 1 5,820 $1,380

Account Account
Equipment No.

Date Explanation Ref. Debit Credit Balance

Debit Credit
Beginning 112,000 $112,000

Account Account
Common No.
Stock

Date Explanation Ref. Debit Credit Balance

Debit Credit
Beginning 20,000 $20,000

Account Account
Retained No.
Earnings

Date Explanation Ref. Debit Credit Balance

Debit Credit
Beginning 117,800 $117,800

Account Account
Dividends No.

Date Explanation Ref. Debit Credit Balance

Debit Credit
Beginning 10,000 $10,000

Account Account
Supplies No.
Expense
FULL NAME:
CLASS:
CODE:
GROUP:
NO:
Date Explanation Ref. Debit Credit Balance
Debit Credit
April. 30 Adjusting 1 5,820 $5,820

Account Account
Wages No.
Expense

Date Explanation Ref. Debit Credit Balance

Debit Credit
Beginning 157,800 157,800
April. 30 Adjusting 1 2,475 $160,275

Account Account
Rent No.
Expense

Date Explanation Ref. Debit Credit Balance

Debit Credit
Beginning 55,000 $55,000

Account Account
Utilities No.
Expense

Date Explanation Ref. Debit Credit Balance

Debit Credit
Beginning 42,000 $42,000

Account Account
Miscellaneous No.
Expense

Date Explanation Ref. Debit Credit Balance

Debit Credit
FULL NAME:
CLASS:
CODE:
GROUP:
NO:
Beginning 7,000 $7,000

Account Account
No.

Date Explanation Ref. Debit Credit Balance

Account Account
No.

Date Explanation Ref. Debit Credit Balance

Step 6: Adjusted Trial Balance

Crazy Mountain Outfitters Co.

Adjusted Trial Balance

April 30, 2018

Account Debit Balances Credit Balances

No.
Cash $11,400
Accounts Receivable 76,500
Accounts Payable $12,200
Wages Payable 2,475
Fees Earned 323,840
Unearned Fees 5,060
Depreciation Expense-Equipment 3,000
Accumulated Depreciation- 3,000
Equipment
Supplies 1,380
Equipment 112,000
FULL NAME:
CLASS:
CODE:
GROUP:
NO:
Common Stock 20,000
Retained Earnings 117,800
Dividends 10,000
Supplies Expense 5,820
Wages Expense 160,275
Rent Expense 55,000
Utilities Expense 42,000
Miscellaneous Expense 7,000
$484375 $484375