|Purpose:||(L.O. 5, 6, 7) This exercise will allow you to practice doing simple adjusting entries.|
The unadjusted trial balance for the J. Lo Motorcycle Repair Shop, Inc. appears below (copied from the Solution to Exercise 2-5). Information needed for adjusting entries follows the trial balance.
J. LO MOTORCYCLE REPAIR SHOP, INC.
August 31, 2014
Using the trial balance above:
(a) Prepare the appropriate adjusting entries.
(b) Prepare an adjusted trial balance at August 31, 2014.