Faisal Repairs and Services has the following unadjusted balance at the end of the first year. Faisal Repairs and Services Unadjusted Trial Balance June 30, 2020 Accounts Debit Credit Cash 12,350 Account Receivable 50,000 Prepaid Insurance 17,500 Supplies 15,200 Equipment 148,700 Account Payable 19,750 Unearned Revenues 18,000 Capital 169,200 Drawings 18,000 Service Revenues 295,000 Wages Expenses 94,500 Rent Expense 72,000 Utilities Expenses 65,600 Miscellaneous Expenses 8,100 Total 501,950 501,950 Additional information: 1. Revenues earned but unbilled on June 30 were OMR 8,000. 2. Supplies on hand on June 30 were OMR 5,100. 3. Insurance expense for the year, OMR 3,700. 4. Unearned Revenues on June 30th were OMR 6,000. 5. Unpaid wages accrued on June 30 were OMR 4,500. Required: Prepare the necessary adjusting entries on 30 June 2020. Determine the balance of the accounts affected by the adjusting entries and prepare the adjusted trial balance.

Faisal Repairs and Services has the following unadjusted balance at the end of the first year. Faisal Repairs and Services Unadjusted Trial Balance June 30, 2020 Accounts Debit Credit Cash 12,350...

Faisal Repairs and Services has the following unadjusted balance at the end of the first year.

Additional information:

1. Revenues earned but unbilled on June 30 were OMR 8,000.

2. Supplies on hand on June 30 were OMR 5,100.

3. Insurance expense for the year, OMR 3,700.

4. Unearned Revenues on June 30th were OMR 6,000.

5. Unpaid wages accrued on June 30 were OMR 4,500.

Required:

Prepare the necessary adjusting entries on 30 June 2020.

Determine the balance of the accounts affected by the adjusting entries and prepare the adjusted trial balance.

Jun 02, 2022