Question

Cajun Restaurant Concenience Store Chapter 4 Homework Question 8 of 15 -12 Salaries and Wages Expense Rent Expense 4,000 1,240 $28,940 $28,940 Assume the following adjustment data. Supplies on hand at October 31 total $610. Expired insurance for the month is $115. Depreciation for the month is $95. As of October 31, services worth $940 related to the previously recorded unearned revenue had been performed. Services performed but unbilled (and no receivable has been recorded) at October 31 are $230. Interest expense accrued at October 31 is $75. Accrued salaries at October 31 are $1,535 1. 2. 3. 4. 5. 6. 7. Prepare the adjusting entries for the items above. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually) No. Account Titles and Explanation Debit Credit Oct. 31 Date 1. . 24

Answer 1

Debit Credit 610.00 No Date Acount titles and explanation 1 31-Oct Supplies on hand Supplies expenses (Being supplies on hand reversed back from supplies expenses) 610.00 115.00 2 31-Oct Insurance expense Prepaid insurance (Being expired insurance expensed) 115.00 95.00 3 31-Oct Depreciation Accummulated depreciation (Being depreciation expense accounted) 95.00 940.00 4 31-Oct Unearned revenue Service revenue (Being part of service performed transferred to service revenue) 940.00 230.00 5 31-Oct Accrued revenue Service revenue (Being revenue accrued for services performed) 230.00 75.00 6 31-Oct Interest expense Accrued interest (Being interest expense accrued) 75.00 1,535.00 7 31-Oct Salaries and wages expense Acrued salaries (Being salaries accrued) 1,535.00

Same excel below

No	Date	Acount titles and explanation	Debit	Credit
1	31-Oct	Supplies on hand	610.00
		Supplies expenses		610.00
		(Being supplies on hand reversed back from supplies expenses)
2	31-Oct	Insurance expense	115.00
		Prepaid insurance		115.00
		(Being expired insurance expensed)
3	31-Oct	Depreciation	95.00
		Accummulated depreciation		95.00
		(Being depreciation expense accounted)
4	31-Oct	Unearned revenue	940.00
		Service revenue		940.00
		(Being part of service performed transferred to service revenue)
5	31-Oct	Accrued revenue	230.00
		Service revenue		230.00
		(Being revenue accrued for services performed)
6	31-Oct	Interest expense	75.00
		Accrued interest		75.00
		(Being interest expense accrued)
7	31-Oct	Salaries and wages expense	1,535.00
		Acrued salaries		1,535.00
		(Being salaries accrued)