Question

The accounting records of Mackay Architects include the following selected, unadjusted balances at March 31 Accounts Receivable $1,000 Office Supplies 51.100 Prepaid Rent, 2.100Equipment. 59.500 Accumulated Depreciation Equipment, 50 Salaries Payable 50 Unearned Revenue $1.000. Service Revenue 54.200 Salaries Expense 51200, Supplies Expense 50 Rent Expense. 50. Depreciation Expense-Equipment. 50 (Assume al balances are normal balances) The data developed for the March 31 adjusting entries are as follows Click the icon to view the data) Read the requirements Requirement 1. Journalize the adjusting entries using the letter and March 31 date in the date column (Record debts first, then credits Select the coplanation on the lastne of the journal entry tale) a. Service revenue accrued, 5700 Date Accounts and Explanation Debit Credit (a) Mar 31 b. Uneanned revenue that has been earned. 5100. When the cash was received assume that alability account was credited) Date Accounts and Explanation Debat Credit b) Mar 31 Choose from any to

Answer 1

Mackay Architects Requirement 1 Requirement 2 Supplies Expense 700 C. Bal. Journal Enteries Trans. Particulars a. Accounts Receivable Service Revenue (Service provided) Debit in $ Credit in $ 700 700 Bal. a. Accounts Receivable 1000 7001 Bal. 1700 Bal. 700 1700 7001 700 1700 Equipment 95001 b. 100 Bal. Unearned Revenue Service Revenue (Service provided) Salaries Payable d. 100 800 Bal. Bal. 800 800 800 9500 9500 800 95001 C. 700 Supplies Expense Office Supplies (Supplies used) 700 Service Revenue Bal. 4200 0 Accum.Depre - Equip. Bal. 143 f. 143 a. 700 Bal. 143 d. 800 Bal. b. 100 143 Salaries Expense Salaries Payable (Salary accrued) 5000 5000 800 5000 e. Rent Expense 700 Bal. 700 e. 700 Bal. 700 Office Suplies 1100 C. Bal. 1100 Rent Expense Prepaid Rent (Rent expired) 700 700 700 400 1100 f. 143 f. Depreciation Expense Accum.Depre - Equip. (To record depreciation) Depreciation Expense - Equip. 143 Bal. 143 143 143 143 1000 Unearned Revenue 100 Bal. 9000 1000 b. Bal. 1000 1000