Question

1. 2. On December 31, adjusting information for Sheffield Corp. is as follows: Estimated depreciation on equipment is $3,960. Property taxes amounting to $2,620 have been incurred but are unrecorded and unpaid. Employee wages that have been earned by employees but are unpaid and unrecorded amount to $3,820. 4. The Service Revenue account includes amounts that have been paid by customers for services that have not yet been completed. The amount has been determined to be $5,010. Interest of $120 on a $25,000 note payable has not been recorded or paid. 3. 5.

Answer 1

Sl.No	Account titles and explanation		Debit	Credit
1	Depreciation expense		$               3,960
	Accumulated Depreication-Equipment			$           3,960
2	Property tax expense		$               2,620
	Property tax payable			$           2,620
3	Wages expenses		$               3,820
	Wages Payable			$           3,820
4	Unearned Service Revenue		$               5,010
	Service Revenue			$           5,010
5	Interest expense		$                  120
	Interest Payable			$              120