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|Adjusting Journal Entries|
|Adjustment Type||Accrual||Date||Account Titles and explanation||Debit||Credit|
|Salaries Expense||Salaries Payable||Office Supplies||$2,000.00|
|To balance b/d||$5,700.00||By Salaries Expense||$2,900.00||(to record use of office supplies)|
|To Salaries Payable||$2,900.00|
|By Income Summary||$8,600.00||To balance c/f||$2,900.00||Dec.31||Accounts Receivables||$3,000.00|
|(to record service revenue billed)|
|Insurance expense||Prepaid Insurance||Interest Payable||$3,100.00|
|To Prepaid Insurance||$110.00||To balance b/d||$1,320.00||By Insurance Expense||$110.00||(to record interest expense accrued)|
|By Income Summary||$110.00||By balance c/f||$1,210.00|
|Interest Expense||Interest Payable|
|By Interest Expense||$3,600.00|
|To Interest Payable||$3,600.00|
|By Income Summary||$3,600.00||To balance c/f||$3,600.00|
Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate...
Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate the adjusted balance and use a Bal. post reference to show the ending balance of each account. Depreciation for the current year includes Equipment, $3,700. The Accumulated Depreciation - Equipment unadjusted balance as of December 31 is $7,000. Adjustment Type: Depreciation Expense - Equipment Accumulated Depreciation - Equipment Used office supplies of $290. The Office Supplies unadjusted balance on December 31 is $9,800. Adjustment...
Create t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate the adjusted balance and use a Bal. post reference to show the ending balance of each account. 1.Completed services that were paid for six months earlier, $4,270. The Service Revenue unadjusted balance as of December 31 is $8,300. The Unearned Revenue balance as of December 31 is $8,500. 2. Used prepaid insurance of $3,140. The Prepaid Insurance unadjusted balance as of December 31 is $10,800. 3....
Build the adjustments columns from the transaction list and total the columns. a Prepaid rent expired, $130 b Supplies used, $260 Depreciation on furniture, $440 d Accrued salaries expense, $870 e Accrued interest on note, $550 Accrued service revenue, $540 SMART TOUCH LEARNING Worksheet December 31, 2016 Unadjusted Trial Balance Adjustments Account Names Debit Credit Debit Credit Cash 12,700 Accounts Receivable 1,600 Office Supplies 400 Prepaid Rent 2,500 Furniture 17,100 Accumulated Depreciation- Furniture Accounts Payable Salaries Payable Interest Payable 100...
Date Accounts and Explanation Debit Credit SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 Balance Debit Credit Account Title Cash 17,300 Accounts Receivable 9,600 Date Accounts and Explanation Debit Credit Office Supplies 200 Prepaid Rent 11,500 Furniture 20,200 Accumulated Depreciation- Furniture 6,900 Accounts Payable 2,300 Salaries Payable 500 Interest Payable 300 Unearned Revenue 5,700 Notes Payable 8,100 Date Debit Accounts and Explanation Credit Bright, Capital 22,900 Bright, Withdrawals 29,400 Service Revenue 52,400 Depreciation Expense- Furniture 2,300 Date Accounts and...
Print 3. Consider the following independent situations at December 31: Click the icon to view the situations.) Journalize the adjusting entry needed on December 31 for each situation. Use the letters to label the joumal entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. On October 1, a business collected $3,000 rent in advance, debiting Cash and crediting Unearned Revenue. The tenant was paying one year's rent in advance. Al...
Accounts Payable Accounts Receivable Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Accumulated Depreciation - Furniture Accumulated Depreciation - Vehicles Advertising Expense Bank Loan Payable Bank Loan Receivable Buildings Cash Common Shares Depreciation Expense Dividends Declared Equipment Fees Earned Furniture Income Summary Income Tax Expense Income Tax Payable Income Tax Receivable Insurance Expense Insurance Revenue Interest Expense Interest Payable Interest Receivable Interest Revenue Land Mortgage Payable No Entry Notes Receivable Office Expense Prepaid Advertising Prepaid Expense Prepaid Insurance Prepaid Rent...
The accounting records of Funaro Architects include the following selected, unadjusted balances at March 31: Accounts Receivable, $1,000; Office Supplies, $1,100; Prepaid Rent, $3,400; Equipment, $14,000; Accumulated Depreciation Equipment, $0, Salaries Payable, $0; Unearned Revenue, $400; Service Revenue, $4,200; Salaries Expense, $1,200; Supplies Expense, $0; Rent Expense, $0; Depreciation Expense-Equipment, $0. The data developed for the March 31 adjusting entries are as follows: (Click the icon to view the data.) Read the requirements. Requirement 2. Post the adjustments to the...
Build the unadjusted trial balance and adjustments columns from the given information and total the columns. Only input amounts for accounts with balances and do not enter zeros for blank cells. Accounts Payable 5.900 Accounts Receivable 19.600 SMART TOUCH LEARNING Worksheet December 31, 2016 Cash 27,900 Unadjusted Trial Balance Adjustments Common Stock 38,600 Account Names Debit Credit Debit Credit Dividends 5.400 Cash 27900 Furniture 4.400 Accounts Receivable 19600 Notes Payable 6.700 Office Supplies R800 Office Supplies 8.800 Prepaid Rent 12700...
Please fill out the journal entry and then fill out the blue section of the worksheet entry based on the information which is in blue. This is an accounting project 1 part 2. Please complete this as soon as possible. Thank you. BEGINNING NUMBERS JANUARY ENTRIES ADJUSTMENTS ADJUSTED TRIAL BALANCE 49,200 37586 8950 63.210 11500 5.650 9,000 UNADJUSTED TRIAL BALANCE 74,824 2,550 16,240 9,000 58,300 67,500 10530 58,300 67,500 8.950 8,950 10,530 10,5901 5650 5,650 Cash Accounts Receivable Supplies Prepaid...
Chart of Accounts Account Number 101 105 115 120 125 140 145 150 151 155 156 160 165 170 175 178 180 182 201 210 215 235 250 255 285 305 315 320 410 435 501 505 514 515 516 520 535 540 545 1548 550 555 Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Prepaid Rent Inventory Building Equipment Accumulated Depreciation - Equipment Furniture Accumulated Depreciation - Furniture Office Furniture Truck Land Copyright Franchise Patent Trademark Accounts Payable...