Question

The ledger of Splish Brothers Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Credit Debit $3,100 4,140 29,100 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $8,730 21,500 11,150 59,900 0 13,600 An analysis of the accounts shows the following. 1. 2. 3. The equipment depreciates $320 per month. Half of the unearned rent revenue was earned during the quarter. Interest of $410 is accrued on the notes payable. Supplies on hand total $920. Insurance expires at the rate of $460 per month. 4. 5.

Answer 1

S.No.	DATE	Accounts Name and Explanation	Debit	Credit
1	MAR'31	Depreciation Expense	960
		Accumulated Depreciation-Office Equipment		960
		(To record depreciation expense)
2	MAR'31	Unearned Rent Revenue	5,575
		Rent Revenue		5,575
		(To record Rent revenue )
3	MAR'31	Interest Expense	410
		Interest Payable		410
		(To record interest expense)
4	MAR'31	Supplies Expense	2,180
		Supplies		2,180
		(To record supplies expense)
5	MAR'31	Insurance Expense	1,380
		Prepaid Insurance		1,380
		(To record insurance expense)