Question

Chart of Accounts General Journal Instructions Prepare the December 31 hdjusting entries for the following transactions 1. Fees accrued but not billed, $6,300. 2. The Supplies account balance on December 31, $4,750, Supplies on hand, $960. 3. Wages accrued but not paid, $2,700. 4. Depreciation of office equipment, $1,650. 5. Rent expired during year, $10,800. General Journal Prepare the December 31 adjusting entries for each transactions. Refer to the Chart of Accounts for exact wording of account titles PAGE 1 JOURNAL CREDIT DEBIT POST. REF DATE DESCRIPTION

Answer 1

Answer :

	Adjusting Journal entries
Date	Description	Post ref	Debit	Credit
Dec-31	Accrued (or Earned ) Fees Revenue A/c Dr.	1	6,300
	To Fees Revenue A/c			6,300
	( Fees earned but not billed )
Dec-31	Supplies Expense Dr.	2	3,790
	To Supplies A/c			3,790
	( Supplies used during the year)
Dec-31	Wages Expenses A/c Dr.	3	2,700
	To Wages Payable A/c			2,700
	( Wages accrued but not paid )
Dec-31	Depreciation -office Equipment A/c Dr.	4	1,650
	To Accumulated depreciation -office Equipment A/c			1,650
	( Depreciation on office Equipment recorded )
Dec-31	Rent Expense A/c Dr.	5	10,800
	To Prepaid Rent A/c			10,800
	( Rent Expired recorded as Rent Expense )

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