Homework Answers
Journal
|
No |
Account Title and Explanation |
Debit |
Credit |
| 1 | Insurance expense | 320 | |
| Prepaid insurance | 320 | ||
| (To record insurance expense) | |||
| 2 | Supplies expense | 3,590 | |
| Supplies | 3,590 | ||
| (To record supplies expense) | |||
| 3 | Depreciation expense | 240 | |
| Accumulated depreciation - Equipment | 240 | ||
| (To record depreciation expense) | |||
| 4 | Unearned service revenue | 4,400 | |
| Service revenue | 4,400 | ||
| (To record unearned service earned) |
1.
Unadjusted supplies = $4,490
Ending supplies = $900
Supplies expense = Unadjusted supplies - Ending supplies
= 4,490 - 900
= $3,590
2.
Unearned service revenue earned = 11,000 x 2/5
= $4,400
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Question 1...
Your answer is partially correct. The ledger of Metlock, Inc. on March 31, 2022, includes the...
Your answer is partially correct. The ledger of Metlock, Inc. on March 31, 2022, includes the following selected accounts before adjusting entries. Credit Supplies Prepaid Insurance Equipment Unearned Service Revenue Debit 4,490 2.560 36,000 11,000 An analysis of the accounts shows the following. Insurance expires at the rate of $320 per month Supplies on hand total $900. The equipment depreciates $240 per month. During March, services were performed for two-fifths of the unearned service revenue. 1 2 3. 4 Prepare...
The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts...
The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Credit Debit $3,900 Supplies Prepaid Insurance 4,680 32,500 Equipment Accumulated Depreciation Equipment $10,920 Notes Payable 26,000 Unearned Rent Revenue 16,120 Rent Revenue 78,000 Interest Expense Salaries and Wages Expense 18,200 An analysis of the accounts shows the following. 1. The equipment depreciates $364 per month. 2. Half of the unearned rent revenue was earned during the quarter....
Question 7 of 10 -11 The ledger of Metlock, Inc. on March 31 of the current...
Question 7 of 10 -11 The ledger of Metlock, Inc. on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Credit Debit $2,880 3,456 24,000 $8,064 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense 19.200 11,904 57.600 0 13,440 An analysis of the accounts shows the following, 1. 2. 3. The equipment depreciates $272 per month Half of the unearned rent...
The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts...
The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Credit Debit $3,640 2,700 28,900 Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $8,670 18,100 11,250 61,500 0 14,200 An analysis of the accounts shows the following. 1. 2. 3. 4. The equipment depreciates $400 per month. Half of the unearned rent revenue was earned...
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S The ledger of Lafayette, SA on March cludes the following selected accounts before adjusting entries. Debit Credit 2,657 Prepaid Insurance Supplies Equipment Unearned Service Revenue 9,800 An analysis of the accounts shows the following. 1. Insurance expires at the rate of CHF2.0 per month. 2. Supplies on hand total CHF1,150. 3. The equipment depreciates CHF472 per month 4. During March, services were performed for two-fifths of the unearned service revenue. Prepare the adjusting entries for the month of March....
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View Policies Current Attempt in Progress The ledger of Kingbird, Inc. on March 31, 2020, includes the following selected accounts before adjusting entries. Debit Credit Prepaid Insurance Supplies Equipment Unearned Service Revenue 2,800 2,300 33,600 8,600 An analysis of the accounts shows the following. 1. 2. 3 Insurance expires at the rate of $200 per month. Supplies on hand total $1,200. The equipment depreciates $300 per month. During March, services were performed for two-fifths of the unearned service revenue. Prepare...
The ledger of Pina Colada Corp. on March 31 of the current year includes the selected...
The ledger of Pina Colada Corp. on March 31 of the current year includes the selected accounts, shown below, before quarterly adjusting entries have been prepared. Credit Debit $ 1,800 3,400 18,750 Prepaid Insurance Supplies Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $ 8,600 21,000 9,900 61,000 0 11,000 An analysis of the accounts shows the following. 1. 2. 3. The equipment depreciates $300 per month. One-third of the unearned...
Current Attempt in Progress The ledger of Windsor, Inc. on March 31, 2017, includes the following...
Current Attempt in Progress The ledger of Windsor, Inc. on March 31, 2017, includes the following selected accounts before adjusting entries. Credit Debit Supplies 2,820 Prepaid Insurance 2,640 25,500 Equipment Unearned Service Revenue 11,600 An analysis of the accounts shows the following. 1. Insurance expires at the rate of $330 per month. 2. Supplies on hand total $955. 3. The equipment depreciates $170 per month. 4. During March, services were performed for two-fifths of the unearned service revenue. Prepare the...
The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts...
The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared Credit Debit $3,900 4,680 32,500 Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $10.920 26.000 16.120 78,000 O 18.200 An analysis of the accounts shows the following 1 2 3 4 The equipment depreciates $364 per month Half of the unearned rent revenue was earned...
The ledger of Sheffield Corp. on March 31 of the current year includes the selected accounts,...
The ledger of Sheffield Corp. on March 31
of the current year includes the selected accounts, shown below,
before quarterly adjusting entries have been prepared. Debit Credit
Prepaid Insurance $ 7,200 Supplies 3,400 Equipment 18,750
Accumulated Depreciation—Equipment $ 8,000 Notes Payable 22,000
Unearned Rent Revenue 10,800 Rent Revenue 60,000 Interest Expense 0
Salaries and Wages Expense 20,000 An analysis of the accounts shows
the following. 1. The equipment depreciates $300 per month. 2.
One-third of the unearned rent revenue was...
Your answer is partially correct. The ledger of Metlock, Inc. on March 31, 2022, includes the following selected accounts before adjusting entries. Credit Supplies Prepaid Insurance Equipment Unearned Service Revenue Debit 4,490 2.560 36,000 11,000 An analysis of the accounts shows the following. Insurance expires at the rate of $320 per month Supplies on hand total $900. The equipment depreciates $240 per month. During March, services were performed for two-fifths of the unearned service revenue. 1 2 3. 4 Prepare...
The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Credit Debit $3,900 Supplies Prepaid Insurance 4,680 32,500 Equipment Accumulated Depreciation Equipment $10,920 Notes Payable 26,000 Unearned Rent Revenue 16,120 Rent Revenue 78,000 Interest Expense Salaries and Wages Expense 18,200 An analysis of the accounts shows the following. 1. The equipment depreciates $364 per month. 2. Half of the unearned rent revenue was earned during the quarter....
Question 7 of 10 -11 The ledger of Metlock, Inc. on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Credit Debit $2,880 3,456 24,000 $8,064 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense 19.200 11,904 57.600 0 13,440 An analysis of the accounts shows the following, 1. 2. 3. The equipment depreciates $272 per month Half of the unearned rent...
The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Credit Debit $3,640 2,700 28,900 Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $8,670 18,100 11,250 61,500 0 14,200 An analysis of the accounts shows the following. 1. 2. 3. 4. The equipment depreciates $400 per month. Half of the unearned rent revenue was earned...
S The ledger of Lafayette, SA on March cludes the following selected accounts before adjusting entries. Debit Credit 2,657 Prepaid Insurance Supplies Equipment Unearned Service Revenue 9,800 An analysis of the accounts shows the following. 1. Insurance expires at the rate of CHF2.0 per month. 2. Supplies on hand total CHF1,150. 3. The equipment depreciates CHF472 per month 4. During March, services were performed for two-fifths of the unearned service revenue. Prepare the adjusting entries for the month of March....
View Policies Current Attempt in Progress The ledger of Kingbird, Inc. on March 31, 2020, includes the following selected accounts before adjusting entries. Debit Credit Prepaid Insurance Supplies Equipment Unearned Service Revenue 2,800 2,300 33,600 8,600 An analysis of the accounts shows the following. 1. 2. 3 Insurance expires at the rate of $200 per month. Supplies on hand total $1,200. The equipment depreciates $300 per month. During March, services were performed for two-fifths of the unearned service revenue. Prepare...
The ledger of Pina Colada Corp. on March 31 of the current year includes the selected accounts, shown below, before quarterly adjusting entries have been prepared. Credit Debit $ 1,800 3,400 18,750 Prepaid Insurance Supplies Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $ 8,600 21,000 9,900 61,000 0 11,000 An analysis of the accounts shows the following. 1. 2. 3. The equipment depreciates $300 per month. One-third of the unearned...
Current Attempt in Progress The ledger of Windsor, Inc. on March 31, 2017, includes the following selected accounts before adjusting entries. Credit Debit Supplies 2,820 Prepaid Insurance 2,640 25,500 Equipment Unearned Service Revenue 11,600 An analysis of the accounts shows the following. 1. Insurance expires at the rate of $330 per month. 2. Supplies on hand total $955. 3. The equipment depreciates $170 per month. 4. During March, services were performed for two-fifths of the unearned service revenue. Prepare the...
The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared Credit Debit $3,900 4,680 32,500 Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $10.920 26.000 16.120 78,000 O 18.200 An analysis of the accounts shows the following 1 2 3 4 The equipment depreciates $364 per month Half of the unearned rent revenue was earned...
The ledger of Sheffield Corp. on March 31
of the current year includes the selected accounts, shown below,
before quarterly adjusting entries have been prepared. Debit Credit
Prepaid Insurance $ 7,200 Supplies 3,400 Equipment 18,750
Accumulated Depreciation—Equipment $ 8,000 Notes Payable 22,000
Unearned Rent Revenue 10,800 Rent Revenue 60,000 Interest Expense 0
Salaries and Wages Expense 20,000 An analysis of the accounts shows
the following. 1. The equipment depreciates $300 per month. 2.
One-third of the unearned rent revenue was...
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