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Activity 4.a - Using T-accounts to Analyze Adjustments

Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid, Accrual, or Depreciation. Use Unadj. Bal. as the label for the opening balance of each account. Calculate the adjusted balance and use a Bal. posting reference to show the ending balance of each account. Enter each transaction on the first available line in the T-Account.Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid, Accrual, or Depreciation. Use Unad

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Answer #1

Case 1)Accrual : Being supplies expense accrued .

SUPPLIES EXPENSE
Adj 4630
Bal 4630
OFFICE SUPPLIES
Unadj.Bal. 8600 Adj. (8600-3970) 4630
Bal 3970

Case2 )Deferrals :Being revenue earned from Amount received in advance .

UNEARNED REVENUE
Adj. 430 Unadj.Bal 9200
Bal 8770

Case 3)Accrual :Accrual of revenue but not yet received

SERVICE REVENUE
Unadj.Bal. 11700
Adj 430
Bal 12130

Case 3)

ACCOUNTS RECEIVABLE
Unadj.Bal 0
Adj. 4740
Bal 4740
SERVICE REVENUE
Unadj Bal 11800
Adj. 4740
Bal 16540
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