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    Ilustre - Adjusting Entries

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    France Bienelle Ilustre
    The document contains journal entries made by Hilltop Realty on December 31. The entries record insurance expense and prepaid insurance, depreciation of office equipment and automobile, unearned management fees, accrued office salaries, and prepaid advertising. The document also contains Hilltop Realty's adjusted trial balance as of December 31, with asset, liability, capital, revenue and expense accounts.

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    Ilustre - Adjusting Entries

    Uploaded by

    France Bienelle Ilustre
    164 views7 pages
    The document contains journal entries made by Hilltop Realty on December 31. The entries record insurance expense and prepaid insurance, depreciation of office equipment and automobile, unearned management fees, accrued office salaries, and prepaid advertising. The document also contains Hilltop Realty's adjusted trial balance as of December 31, with asset, liability, capital, revenue and expense accounts.

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    Accounting

    Original Title

    Ilustre_Adjusting Entries

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    The document contains journal entries made by Hilltop Realty on December 31. The entries record insurance expense and prepaid insurance, depreciation of office equipment and automobile, unearned management fees, accrued office salaries, and prepaid advertising. The document also contains Hilltop Realty's adjusted trial balance as of December 31, with asset, liability, capital, revenue and expense accounts.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    164 views7 pages

    Ilustre - Adjusting Entries

    Uploaded by

    France Bienelle Ilustre
    The document contains journal entries made by Hilltop Realty on December 31. The entries record insurance expense and prepaid insurance, depreciation of office equipment and automobile, unearned management fees, accrued office salaries, and prepaid advertising. The document also contains Hilltop Realty's adjusted trial balance as of December 31, with asset, liability, capital, revenue and expense accounts.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 7

    HILLTOP REALTY

    Journal Entries
    December 31, 20__
    DATE ACCOUNT TITLES F DEBIT
    1 Insurance Expense 20,000
    Prepaid Insurance

    2 Depreciation, office equipment 30,000


    Accumulated depreciation, office equipment

    Depreciation, automobile 50,000


    Accumulated depreciation, automobile

    3 Unearned Management Fees 10,000


    Management Fees

    4 Office Salaries Expense 25,000


    Accrued Office Salaries

    5 Prepaid Advertising 30,000


    Advertising
    Y

    __
    CREDIT

    20,000

    30,000

    50,000

    10,000

    25,000

    30,000
    HILLTOP REALTY
    POSTINGS
    December 31, 20____

    CASH ACCOUNTS RECEIVABLE


    144,500 98,000

    OFFICE EQUIPMENT ACCUMULATED DEPRECIATION, OFFICE EQUIPMENT


    375,000 65,000
    30,000
    95,000

    ACCOUNTS PAYABLE ACCUMULATED DEPRECIATION, AUTOMOBILE


    110,000 95,000
    50,000
    145,000

    ACCRUED OFFICE SALARIES C. DE LEON, CAPITAL


    25,000 500,000

    MANAGEMENT FEES SALES COMMISION EARNED


    10,000 1,565,000

    OFFICE SALARIES EXPENSE ADVERTISING EXPENSE


    750,000 75,000 30,000
    25,000 45,000
    775,000

    TELEPHONE EXPENSE UTILITY EXPENSE


    45,000 32,000
    DEPRECIATION, OFFICE EQUIPMENT DEPRECIATION, AUTOMOBILE
    30,000 50,000
    PREPAID INSURANCE
    54,000 20,000
    34,000

    AUTOMOBILE
    576,500

    UNEARNED MANAGEMENT FEES


    10,000 55,000
    45,000

    C. DE LEON DRAWING
    90,000

    PREPAID ADVERTISING
    30,000

    RENT EXPENSE
    150,000

    INSURANCE EXPENSE
    20,000
    HILLTOP REALTY
    Adjusted Trial Balance
    December 31, 20___

    Accounts Debit Credit


    Cash 144,500
    Accounts Receivable 98,000
    Prepaid Insurance 34,000
    Office equipment 375,000
    Accumulated depreciation, office equipment 95,000
    Automobile 576,500
    Accumulated depreciation, automobile 145,000
    Accounts payable 110,000
    Unearned management fees 45,000
    Accrued office salaries 25,000
    C. de Leon, capital 500,000
    C. de Leon, drawing 90,000
    Management Fees 10,000
    Sales commission earned 1,565,000
    Prepaid Advertising 30,000
    Office salaries expense 775,000
    Advertising expense 45,000
    Rent expense 150,000
    Telephone expense 45,000
    Utility expense 32,000
    Insurance expense 20,000
    Depreciation, office equipment 30,000
    Depreciation, automobile 50,000
    2,495,000 2,495,000
    5

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