Question

REQUIRED: Homework Chapter 3 0 Help Save & Exit Submit November 30 December Supplies Prepaid Insurance Salaries Payable Deferred Revenue Debit Credit Debit Credit 1,000 2,500 4,000 3,000 9,000 14,000 1,000 500 Doints eBook The following information also is known: Referencesa. Purchases of supplies in December total $2,500. b. No insurance payments are made in December c. $9,000 is paid to employees during December for November salaries. d. On November 1, a tenant pays Golden Eagle $1,500 in advance rent for the period November through January. Deferred Revenue is credited. Required: Show the adjusting entries that were made for supplies, prepaid insurance, salaries payable, and deferred revenue on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list View journal entry worksheet General Journal Debit NoTransaction Credit Supplies Prepaid insurance Salaries payable 1 of 9 Next >

Answer 1

No Credit Debit $ 1,000 a. 1000+2500-2500(Opening balance+Purchases- Closing balance)= Expenses $ 1,000 $ 1,000 4000-3000(Opening Balance - Closing balance) Accounts Title Supplies Expenses Supplies Insurance Expenses Prepaid Insurance Salaries Expenses Salaries Payable Deferred Revenue Service Revenue $ 1,000 $ 14,000 9000-9000+14000=Opening Balance-paid+Closing Balance $ 14,000 d. $ 500 1000-500=Opening balance - Closing balance $ 500