Question

All January

1 Paid rent for two months in advance, $500.

3 Purchased office supplies for $200 and office equipment for $1,100 on account.  

9 Billed a customer for fees earned, $2,000.

14 Paid telephone bill, $150.

21 Owner withdrew $475 from the business for personal use.

28 Received $600 for fees earned.

31 Paid salaries expense, $800.

Only Prepare Adjusting journal entries below based on information above

a. One month of prepaid rent has expired.

b. An inventory shows $25 of office supplies remaining.

c. Depreciation on office equipment, $50.

d. Depreciation on automobile, $150.

Answer 1

	Adjusting entry
	General Journal				Debit	Credit
1)	Rent expense				250
	prepaid rent					250
2)	office supplies expense				175
	office supplies .					175
3)	Depreciation expense-equipment				50
	Accumulated depreciation					50
4)	Depreciation expense				150
	accumulated depreciation					150