Question

Tujuuli LILIS PUI ed or the following unrelated situations, prepare the necessary adjusting entry in gene a. Unrecorded depreciation on equipment is $1,310. b. The Supplies account has a balance of $3,690, Supplies on hand at the end of the period totaled $1,800. c. On the date for preparing financial statements, an estimated utilities expense of $1,090 has been incurred, bu d. On the first day of the current month, rent for four months was paid and recorded as a $3,500 debit to Prepai are now being prepared. e. Nine months ago, Solid Insurance Company sold a one-year policy to a customer and recorded the receipt oft Unearned Premium Revenue $1,324. No adjusting entries have been prepared during the nine-month period. An f. At the end of the accounting period, employee wages of $965 have been incurred but not paid. g. At the end of the accounting period, $300 of interest has been earned but not yet received on notes receivable Credit Debit 1,310 $ 1,310 2 1,890 1,890 1,090 1,090 Description a. Depreciation Expense-Equipment Accumulated Depreciation-Equipment To record depreciation expense. b. Supplies Expense Supplies To record supplies expense. c. Utilities Expense Utilities Payable To record accrued utilities expense. d. Rent Expense Prepaid Rent To record rent expense for the month. e. Unearned Premium Revenue Premium Revenue To record premium revenue earned. f. Wages Expense Wages Payable Tn record accrued wages at the end of the period 875 0 1,765 0 1,765 965 0 965

Answer 1

Other entries are correct except e and g. Find the correct entry for e and g below:

Credit Description e. Unearned premium revenue Premium revenue (1,324/12months)x 9 months) Debit 993 993 300 Interest receivable Interest revenue 300