Journal
Date | Account title | Debit | Credit |
(a) | Wages expense | 4,200 | |
Wages payable | 4,200 | ||
(b) | Supplies expense | 800 | |
Supplies | 800 | ||
(c) | Rent receivable | 1,280 | |
Rent revenue | 1,280 | ||
(d) | Depreciation expense | 11,900 | |
Accumulated depreciation - Equipment | 11,900 | ||
(e) | Insurance expense | 420 | |
Prepaid insurance | 420 | ||
(f) | Unearned rent revenue | 4,400 | |
Rent revenue | 4,400 | ||
(g) | Accounts receivable | 740 | |
Repair shop revenue | 740 |
(b)
Supplies expense = Supplies beginning + Supplies purchased - Supplies ending
= 560 + 560 - 320
= $800
(c)
Rent receivable = Per month rent revenue x 2
= 640 x 2
= $1,280
(e)
Insurance expense for six months = Insurance premium paid x 6/24
= 1,680 x 6/24
= $420
(f)
Rent revenue per month = $2,200
Rent revenue for two months = 2,200 x 2
= $4,400
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TILP Save & Ex Chec Required information The following information applies to the questions displayed below.)...
Required information The following information applies to the questions displayed below.) Trotman's Variety Store is completing the accounting process for the current year just ended, December 31. The transactions during the year have been journalized and posted. The following data with respect to adjusting entries are available: a. Wages earned by employees during December, unpaid and unrecorded at December 31, amounted to $4,500. The last payroll was December 28; the next payroll will be January 6. b. Office supplies on...
Required information [The following information applies to the questions displayed below.) Trotman's Variety Store is completing the accounting process for the current year just ended, December 31. The transactions during the year have been journalized and posted. The following data with respect to adjusting entries are available: a. Wages earned by employees during December, unpaid and unrecorded at December 31, amounted to $4,500. The last payroll was December 28; the next payroll will be January 6. b. Office supplies on...
Chapter 4
Catena's Marketing Company has the following adjusted trial
balance at the end of the current year. Cash dividends of $600 were
declared at the end of the year, and 660 additional shares of
common stock ($0.10 par value per share) were issued at the end of
the year for $2,640 in cash (for a total at the end of the year of
810 shares). These effects are included below:
Required information [The following information applies to the questions...
Trotman's Variety Store is completing the accounting process for the current year just ended, December 31. The transactions during the year have been journalized and posted. The following data with respect to adjusting entries are available: a. Wages earned by employees during December, unpaid and unrecorded at December 31, amounted to $2,800. The last payroll was December 28; the next payroll will be January 6. b. Office supplies on hand at January 1 of the current year totaled $470. Office...
Trotman’s variety Store is completing the accounting process for the current year just ended. December 31. The transaction during the year have been journalized and posted. The following data will respect to adjustment entries are available. a. Wages earned by employees during December, unpaid and unrecorded at December 3, amount to $2,700 the last payroll was December 28, the next payroll will be January 6. b. Office supplies on hand at January 1 of the current year totaled $450.00. Office...
Trotman’s variety Store is completing the accounting process for the current year just ended. December 31. The transaction during the year have been journalized and posted. The following data will respect to adjustment entries are available. a. Wages earned by employees during December, unpaid and unrecorded at December 3, amount to $2,700 the last payroll was December 28, the next payroll will be January 6. b. Office supplies on hand at January 1 of the current year totaled $450.00. Office...
Trotman’s Variety Store is completing the accounting process for the current year just ended, December 31. The transactions during the year have been journalized and posted. The following data with respect to adjusting entries are available: Wages earned by employees during December, unpaid and unrecorded at December 31, amounted to $4,600. The last payroll was December 28; the next payroll will be January 6. Office supplies on hand at January 1 of the current year totaled $600. Office supplies purchased...
Question 13 Trotman’s variety Store is completing the accounting process for the current year just ended. December 31. The transaction during the year have been journalized and posted. The following data will respect to adjustment entries are available. a. Wages earned by employees during December, unpaid and unrecorded at December 3, amount to $2,700 the last payroll was December 28, the next payroll will be January 6. b. Office supplies on hand at January 1 of the current year totaled...
Question 12 Trotman’s variety Store is completing the accounting process for the current year just ended. December 31. The transaction during the year have been journalized and posted. The following data will respect to adjustment entries are available. a. Wages earned by employees during December, unpaid and unrecorded at December 3, amount to $2,700 the last payroll was December 28, the next payroll will be January 6. b. Office supplies on hand at January 1 of the current year totaled...
Question 12 Trotman’s variety Store is completing the accounting process for the current year just ended. December 31. The transaction during the year have been journalized and posted. The following data will respect to adjustment entries are available. a. Wages earned by employees during December, unpaid and unrecorded at December 3, amount to $2,700 the last payroll was December 28, the next payroll will be January 6. b. Office supplies on hand at January 1 of the current year totaled...