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Journal entry worksheet < 1 2 3 4 5 6 7 Johnsons used boat-lifting equipment that cost $180,000; $18,000 was the estimated dJournal entry worksheet < 1 2 3 4 5 6 Boat repair supplies on hand at the beginning of the current year totaled $18,900. RepaJournal entry worksheet < 1 2 3 4 5 6 7 Wages of $5,600 earned by employees during November were unpaid and unrecorded at NovJournal entry worksheet < 1 2 3 4 5 6 7 The Sanjeev family paid Johnsons $4,500 on November 1 to store its sailboat for the[The following information applies to the questions displayed below.] Johnsons Boat Yard, Inc., repairs, stores, and cleansRequired: 1. Identify each of these transactions as a deferred revenue, deferred expense, accrued revenue, or accrued expense2. Prepare the adjusting entries that should be recorded for Johnsons at November 30, end of the current year. (If no entry2 3 4 5 6 7 On October 1, Johnsons paid $2,200 to the local newspaper for an advertisement to run every Thursday for 12 weekJournal entry worksheet < 1 2 4 5 6 7 Johnsons borrowed $300,000 at a 11 percent annual interest rate on April 1, current ye

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Answer #1

1.

a. Accrued Revenue
b. Deferred Expense
c. Accrued Expense
d. Deferred Revenue
e. Accrued Expense
f. Accrued Expense
g. Accrued Expense

2.

Date Account Titles Debit Credit
November 30 $ $
a. Accounts Receivable 3,300
Service Revenue 3,300
b. Advertising Expense 1,650
Prepaid Advertising 1,650
c. Interest Expense 5,500
Interest Payable 5,500
d. Unearned Storage Revenue 750
Storage Revenue 750
e. Depreciation Expense 18,000
Accumulated Depreciation : Equipment 18,000
f. Supplies Expense 48,500
Supplies 48,500
g. Wages Expense 5,600
Wages Payable 5,600
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