Chapter 03 – Adjusting Accounts for Financial Statements
Problem 3-3B (90 minutes)
Parts 1 and 2
Cash
Accounts Payable
Bal.
60,000
Bal.
11,200
Accounts Receivable
Salaries Payable
Unadj. Bal.
0
Unadj. Bal.
0
(f)
5,750
(g)
450
Adj. Bal.
5,750
Adj. Bal.
450
Teaching Supplies
Unearned Training Fees
Unadj. Bal.
70,000
Unadj. Bal.
28,600
(b)
50,000
(e)
28,600
Adj. Bal.
20,000
Adj. Bal.
0
Prepaid Insurance
Common Stock
Unadj. Bal.
19,000
Bal.
11,000
(a)
9,500
Adj. Bal.
9,500
Retained Earnings
Prepaid Rent
Bal.
60,500
Unadj. Bal.
3,800
(h)
3,800
Dividends
Adj. Bal.
0
Bal.
20,000
Professional Library
Bal.
12,000
Accumulated Depreciation—
Professional Library
Unadj. Bal.
2,500
(d)
2,400
Adj. Bal.
4,900
Equipment
Bal.
40,000
Accumulated Depreciation—
Equipment
Unadj. Bal.
20,000
(c)
5,000
Adj. Bal.
25,000
