Trapper Company's unadjusted and adjusted trial balances on December 31 of the current year are as follows: ?UnadjustedTrial BalanceAdjustedTrial BalanceCash 4,000? 4,000Prepaid insurance 1,500? 1,200?Equipment 9,000? 9,000?Accumulated depreciation-Equipment? 800? 1,800Salaries payable??? 1,000Unearned repair fees? 2,500? 600Common stock ……………………….?1,000?1,000Retained earnings ……………………….?4,400?4,400Repair fees earned?10,000?11,900Salaries expense 3,500? 4,500?Depreciation expense-Equip.??1,000?Insurance expense 700? 1,000??18,70018,70020,70020,700Present the four adjusting journal entries that were recorded by Trapper Company.
What will be an ideal response?
| Dec. 31 | Insurance Expense | 300 | ? |
| ? | Prepaid Insurance | ? | 300 |
| 31 | Depreciation Expense-Equipment | 1,000 | ? |
| ? | Accum. Depr. -Equipment | ? | 1,000 |
| 31 | Salaries Expense | 1,000 | ? |
| ? | Salaries Payable | ? | 1,000 |
| 31 | Unearned Repair Fees | 1,900 | ? |
| ? | Repair Fees Earned | ? | 1,900 |
Business
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