Question

CRANE COMPANY Trial Balance August 31, 2020 Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash $10,300 $10,300 Accounts Receivable 9.000 9.500 Supplies 700 Prepaid Insurance 2,400 3.800 13.300 2.600 Equipment 13,300 Accumulated Depreciation-Equipment $3,600 $4,400 Accounts Payable 5.900 5.900 Salaries and Wages Payable 1.400 Unearned Rent Revenue 1400 800 Owner's Capital 14.900 14.900 Service Revenue 34 500 Rent Revenue 10.900 11500 Salanes and Wages Expense 17.000 18.400 Supplies Expense 1.700 Rent Expense 14 900 Insurance Expense 1.200 Depreciation Expense 800 570700 570.700 $73.400 573.400 e a o 00

prepare the adjusting entries that were made

Answer 1

No.	Account titles and explanation	Debit	Credit
1	Accounts receivable	500
	Service revenue		500
	(to record service provided on account)
2	Supplies expense	1700
	supplies		1700
	(to record supplies expense incurred)
3	Insurance expense	1200
	Prepaid insurance		1200
	(to record insurance expense incurred)
4	Depreciation expense	800
	Accumulated depreciation – equipment		800
	(to record depreciation on equipment)
5	Salaries and wages expense	1400
	Salaries and wages payable		1400
	(to record accrued salaries)
6	Unearned rent revenue	600
	Rent revenue		600
	(to record rent revenue earned)