Date | General Journal | Debit | Credit |
December 31 | Supplies expense | $720 | |
Supplies | $720 | ||
( To record adjusting entry of supplies) | |||
December 31 | Wages expense | $3,400 | |
Wages payable | $3,400 | ||
( To record adjusting entry for salaries and wages) | |||
December 31 | Deferred revenue | $2,140 | |
Rent revenue | $2,140 | ||
(To record adjusting entry for rent) | |||
December 31 | Depreciation expense | $1,700 | |
Accumulated depreciation - Equipment | $1,700 | ||
( to record adjusting entry for depreciation) | |||
December 31 | Insurance expense | $705 | |
Prepaid insurance | $705 | ||
(To record adjusting entry for insurance) | |||
December 31 | Accounts receivable | $720 | |
Service revenue | $720 | ||
( To record adjusting entry for unearned revenue) |
a.
Supplies expense = Supplies beginning - Supplies ending
= 820-100
= $720
c.
Rent revenue for 1 month = $1,070
Rent revenue for November and December = 1,070 x 2
= $2,140
e.
Insurance expense for 24 months = $2,820
Insurance expense for 6 months of 2018 = 2,820 x 6/24
= $705
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Jaworski's Ski Store is completing the accounting process for its first year ended December 31, 2018....
Jaworski's Ski Store is completing the accounting process for its first year ended December 31, 2018. The transactions during 2018 have been journalized and posted. The following data are available to determine adjusting journal entries: a. The unadjusted balance in Supplies was $820 at December 31, 2018. The unadjusted balance in Supplies Expense was $0 at December 31, 2018. A year-end count showed $100 of supplies on hand. b. Wages earned by employees during December 2018, unpaid and unrecorded at...
Jaworski's Ski Store is completing the accounting process for its first year ended December 31, 2018. The transactions during 2018 have been journalized and posted. The following data are available to determine adjusting journal entries: a. The unadjusted balance in Supplies was $790 at December 31, 2018. The unadjusted balance in Supplies Expense was $0 at December 31, 2018. A year-end count showed $100 of supplies on hand. b. Wages earned by employees during December 2018, unpaid and unrecorded at...
Jaworski's Ski Store is completing the accounting process for its first year ended December 31, 2018. The transactions during 2018 have been journalized and posted. The following data are available to determine adjusting journal entries: a. The unadjusted balance in Supplies was $840 at December 31, 2018. The unadjusted balance in Supplies Expense was $0 at December 31, 2018. A year-end count showed $110 of supplies on hand. b. Wages earned by employees during December 2018, unpaid and unrecorded at...
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Jaworski's Ski Store is completing the accounting process for its first year ended December 31, 2018. The transactions during 2018 have been journalized and posted. The following data are available to determine adjusting journal entries: a. The unadjusted balance in Supplies was $790 at December 31, 2018. The unadjusted balance in Supplies Expense was so at December 31, 2018. A year-end count showed $100 of supplies on hand. b. Wages earned by employees during December 2018, unpaid and unrecorded at...
Jaworski's Ski Store is completing the accounting process for its first year ended December 31, 2018. The transactions during 2018 have been journalized and posted. The following data are available to determine adjusting journal entries: a. The unadjusted balance in Supplies was $970 at December 31, 2018. The unadjusted balance in Supplies Expense was $0 at December 31, 2018. A year-end count showed $160 of supplies on hand. b. Wages earned by employees during December 2018, unpaid and unrecorded at...
Jaworski's Ski Store is completing the accounting process for its first year ended December 31, 2018. The transactions during 2018 have been journalized and posted. The following data are available to determine adjusting journal entries: a. The unadjusted balance in Supplies was $930 at December 31, 2018. The unadjusted balance in Supplies Expense was $0 at December 31, 2018. A year-end count showed $110 of supplies on hand. b. Wages earned by employees during December 2018, unpaid and unrecorded at...
Check my work Jaworski's Ski Store is completing the accounting process for its first year ended December 31, 2018. The transactions during 2018 have been journalized and posted. The following data are available to determine adjusting journal entries: a. The unadjusted balance in Supplies was $840 at December 31, 2018. The unadjusted balance in Supplies Expense was $0 at December 31, 2018. A year-end count showed $110 of supplies on hand. b. Wages earned by employees during December 2018, unpaid...
Jaworski’s Ski Store is completing the accounting process for its first year ended December 31, 2018. The transactions during 2018 have been journalized and posted. The following data are available to determine adjusting journal entries: The unadjusted balance in Supplies was $840 at December 31, 2018. The unadjusted balance in Supplies Expense was $0 at December 31, 2018. A year-end count showed $110 of supplies on hand. Wages earned by employees during December 2018, unpaid and unrecorded at December 31,...
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