Homework Answers
Adjusting entry
| No | General Journal | Debit | Credit |
| 1 | Interest expense (10000*9%*4/12) | 300 | |
| Interest payable | 300 | ||
| 2 | Supplies expense | 1550 | |
| Supplies (2450-900) | 1550 | ||
| 3 | Depreciation expense | 1000 | |
| Accumulated depreciation-equipment | 1000 | ||
| 4 | Insurance expense | 1225 | |
| Prepaid insurance (2100/12*7) | 1225 | ||
| 5 | Unearned service revenue (32000/4) | 8000 | |
| Service revenue | 8000 | ||
| 6 | Account receivable | 4200 | |
| Service revenue | 4200 | ||
| 7 | Salaries and wages expense (9000/5*3) | 5400 | |
| Salaries and wages payable | 5400 | ||
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E3-5 Devin Wolf Company has the following balances in selected accounts on December 31, 2017 -0-...
E3-5 Devin Wolf Company has the following balances in selected accounts on December 31,2017. Accounts Receivable...
E3-5 Devin Wolf Company has the following balances in selected accounts on December 31,2017. Accounts Receivable $-0- Accumulated Depreciation-Equipment -0- Equipment 7,000 Interest Payable -0- Notes Payable 10,000 Prepaid Insurance 2,100 Salaries and Wages Payable -0- Supplies 2,450 Unearned Service Revenue 30,000 All the accounts have normal balances. The information below has been gathered at December 31,2017 1 . Devin Wolf Company borrowed $10,000 by signing a 9%, one-year note on September 1, 2017 2. A count of supplies on...
Prepare adjusting entries of the seven items decribed below E3-5 Devin Wolf Company has the following...
Prepare adjusting entries of the seven items decribed
below
E3-5 Devin Wolf Company has the following balances in selected accounts on December 31,2017. Accounts Receivable $-0- Accumulated Depreciation-Equipment-0- Equipment 7,000 nterest Payable -o- Notes Payable 10,000 Prepaid Insurance 2,100 Salaries and Wages Payable-0- Supplies 2,450 Unearned Service Revenue 30,000 All the accounts have normal balances. The information below has been gathered at December 31,2017 1, Devin Wolf Company borrowed $10,000 by signing a 9%, one-year note on September 1, 2017....
E3-5 Devin Wolf Company has the following balances in selected accounts on December should adopt the...
E3-5 Devin Wolf Company has the following balances in selected accounts on December should adopt the achtily each statement as true or false. If false, indicate how to correct the statement. E3-2 On numerous occasions, proposals have surfaced to put the federal government on the accrual basis of accounting. This is no small issue. If this basis were used, it would mean that billions in unrecorded liabilities would have to be booked, and the federal deficit (a) What is the...
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expense, or accrued revenue) is need December 53-5 Veme Cova Company has the following balances in...
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E3-5 Devin Wolf Company has the following balances in selected accounts on December 31,2017. Accounts Receivable $-0- Accumulated Depreciation-Equipment -0- Equipment 7,000 Interest Payable -0- Notes Payable 10,000 Prepaid Insurance 2,100 Salaries and Wages Payable -0- Supplies 2,450 Unearned Service Revenue 30,000 All the accounts have normal balances. The information below has been gathered at December 31,2017 1 . Devin Wolf Company borrowed $10,000 by signing a 9%, one-year note on September 1, 2017 2. A count of supplies on...
Prepare adjusting entries of the seven items decribed
below
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E3-5 Devin Wolf Company has the following balances in selected accounts on December should adopt the achtily each statement as true or false. If false, indicate how to correct the statement. E3-2 On numerous occasions, proposals have surfaced to put the federal government on the accrual basis of accounting. This is no small issue. If this basis were used, it would mean that billions in unrecorded liabilities would have to be booked, and the federal deficit (a) What is the...
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