Solution:
Journal Entries | |||
Event | Particulars | Debit | Credit |
a | Depreciation expense Dr | $14,000.00 | |
To Accumulated depreciation - Equipment | $14,000.00 | ||
(To record depreciation expense) | |||
b | Insurance expense Dr | $6,770.00 | |
To Prepaid insurance | $6,770.00 | ||
(To record insurance expense) | |||
c | Supplies expense Dr | $2,622.00 | |
To Office Supplies | $2,622.00 | ||
(To record supplies expense) | |||
d | Unearned service revenue Dr | $8,000.00 | |
To Service revenue | $8,000.00 | ||
(To record service revenue) | |||
e | Insurance expense Dr | $4,770.00 | |
To Prepaid insurance | $4,770.00 | ||
(To record insurance expense) | |||
f | Wages expense Dr | $2,000.00 | |
To Wages payable | $2,000.00 | ||
(To record wages expense) |
Exercise 3-3 Preparing adjusting entries LO P1 a. Depreciation on the company's equipment for 2017 is...
Exercise 3-6 Preparing adjusting entries LO P1 a. Depreciation on the company's equipment for 2017 is computed to be $11,000. b. The Prepaid Insurance account had a $7,000 debit balance at December 31, 2017, before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,510 of unexpired insurance coverage remains. c. The Office Supplies account had a $230 debit balance on December 31, 2016; and $2,680 of office supplies were purchased during...
Exercise 3-6 Preparing adjusting entries LO P1 a. Depreciation on the company's equipment for 2017 is computed to be $17,000. b. The Prepaid Insurance account had a $7,000 debit balance at December 31, 2017, before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,960 of unexpired insurance coverage remains. c. The Office Supplies account had a $280 debit balance on December 31, 2016; and $2,680 of office supplies were purchased during...
6
part question
Saved Exercise 3-3 Preparing adjusting entries LO P1 a. Depreciation on the company's equipment for 2017 is computed to be $17,000. b. The Prepald Insurance account had a $7,000 debit balance at December 31, 2017, before adjusting for the costs of any expired coverage. An analysis of the company's insurance policles showed that $1,800 of unexptred insurance coverage remains c. The Office Supplies account had a $390 debit balance on December 31, 2016; and $2,680 of office...
Exercise 3-1 Preparing adjusting entries LO P1, P2, P3 a. Depreciation on the company's equipment for the year is computed to be $16,000. b. The Prepaid Insurance account had a $7000 debit balance at December 31 before adjusting for the costs of any expired coverage An analysis of the company's insurance policies showed that $1700 of unexpired insurance coverage remains c. The Office Supplies account had a $280 debit balance at the beginning of the year, and $2,680 of office...
Exercise 3-1 Preparing adjusting entries LO P1, P2, P3 a. Depreciation on the company's equipment for the year is computed to be $18.000. b. The Prepaid Insurance account had a $6.000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,100 of unexpired insurance coverage remains. c. The Office Supplies account had a $700 debit balance at the beginning of the year, and $3.480 of office...
Depreciation on the company's equipment for 2017 is computed to be $12,000. The Prepaid Insurance account had a $9,000 debit balance at December 31, 2017, before adjusting for the costs of any expired coverage. An analysis of the company’s insurance policies showed that $840 of unexpired insurance coverage remains. The Office Supplies account had a $310 debit balance on December 31, 2016; and $2,680 of office supplies were purchased during the year. The December 31, 2017, physical count showed $366...
Depreciation on the company's equipment for 2017 is computed to be $11,000. The Prepaid Insurance account had a $7,000 debit balance at December 31, 2017, before adjusting for the costs of any expired coverage. An analysis of the company’s insurance policies showed that $1,160 of unexpired insurance coverage remains. The Office Supplies account had a $440 debit balance on December 31, 2016; and $2,680 of office supplies were purchased during the year. The December 31, 2017, physical count showed $519...
Exercise 3-1 Preparing adjusting entries LO P1, P2, P3a. Depreciation on the company's equipment for the year is computed to be $ 18,000.b. The Prepaid Insurance account had a $ 6,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $ 1,100 of unexpired insurance coverage remains.c. The Office Supplies account had a $ 700 debit balance at the beginning of the year, and $ 3,480...
a. Depreciation on the company's equipment for the year is computed to be $15,000. b. The Prepaid Insurance account had a $9,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,930 of unexpired insurance coverage remains. c. The Office Supplies account had a $320 debit balance at the beginning of December, and $2,680 of office supplies were purchased in December. The December 31 physical count...
a. Depreciation on the company's equipment for 2017 is computed to be $14,000. b. The Prepaid Insurance account had a $6,000 debit balance at December 31, 2017, before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,560 of unexpired insurance coverage remains. c. The Office Supplies account had a $420 debit balance on December 31, 2016; and $2,680 of office supplies were purchased during the year. The December 31, 2017, physical...