Question

CALCULATOR PRINTER VERST Do It! Review 3-02 The ledger of Bramble Corp. on March 31, 2020, includes the following selected accounts before adjusting entries. Credit Prepaid Insurance Supplies Equipment Unearned Service Revenue Debit 2,200 2,200 33,200 8,300 1. An analysis of the accounts shows the following Insurance expires at the rate of $300 per month 2. Supplies on hand total $1,100. 3. The equipment depreciates $400 per month 4. During March, services were performed for two-fifths of the unearned service revenue. Prepare the adjusting entries for the month of March. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1. Mar. 31 2. Mar. 31 3. Mar. 31 4. Mar. 31

Answer 1

Date Particular Debit Credit $ 300 Mar. 31 Insurance Expense Prepaid Insurance (To record insurance expense) $ 300 $ 1,100 Mar. 31 Supplies Expense Supplies (To record supplies expense) ($2200-$1100) $ 1,100 $ 400 Mar. 31 Depreciation Expense-Equipment Accumulated Depreciation-Equipment (To record depreciation expense) $ 400 $ 3,320 $ 3,320 Mar. 31 Unearned Service Revenue Service Revenue (To recognize earned service revenue) ($8300*2/5)

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