Question
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly
Credit Debit $4,800 5,760 40,000 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearn
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (If no entry is required, sele
0 0
Add a comment Improve this question Transcribed image text
Answer #1

No. Date Account Titles and Explanations Debit Credit 1 Mar. 31 Depreciation $1,344 Accumulated Depreciation $1,344 ($448*3)

I hope this clear your doubt.

Feel free to comment if you still have any query or need something else. I'll help asap.

Do give a thumbs up if you find this helpful.

Add a comment
Know the answer?
Add Answer to:
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly Credit Debit...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly.

    The ledger of Splish Brothers Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared CreditDebitSupplies$8,100Prepaid insurance9,720Equipment67,500Accumulated Depreciation-Equipment$22,680Notes Payable54,000Unearned Rent Revenue33,480Rent Revenue162,000Interest Expense0Salaries and Wages Expense37,800An analysis of the accounts shows the following 1. The equipment depreciates $756 per month 2. Half of the uneared rent revenue was earned during the quarter 3. Interest of $1,080 is accrued on the notes payable 4. Supplies on hand total $2,295. 5. Insurance expires at the rate of $1,080 per...

  • prepare adjusting entries at March 31, assuming that adjusting entries are made quarterly. Disaussions View Policies...

    prepare adjusting entries at March 31, assuming that adjusting entries are made quarterly. Disaussions View Policies Current Attempt in Progress Conferences Collaborations The ledger of Carla Vista Rental Agency on March 31 of the current year includes the selected accounts, shown below, before adjusting entries have been prepared. WileyPLUS Support Debit Credit Prepaid Insurance $12,600 Supplies 2,700 Equipment 31,250 Accumulated Depreciation-Equipment $8,000 Notes Payable 21,000 Unearned Rent Revenue 9,600 Rent Revenue 61,000 Interest Expense Salaries and Wages Expense 13,000 An...

  • The ledger of Novak Corp.on March 31 of the current year includes the selected accounts below...

    The ledger of Novak Corp.on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Debit Credit Supplies $8,400 Prepaid Insurance 10,080 Equipment 70,000 Accumulated Depreciation-Equipment $23,520 Notes Payable 56,000 Unearned Rent Revenue 34,720 Rent Revenue 168,000 Interest Expense Salaries and Wages Expense 39,200 An analysis of the accounts shows the following. 1. The equipment depreciates $784 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest...

  • The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts...

    The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Credit Debit $3,900 Supplies Prepaid Insurance 4,680 32,500 Equipment Accumulated Depreciation Equipment $10,920 Notes Payable 26,000 Unearned Rent Revenue 16,120 Rent Revenue 78,000 Interest Expense Salaries and Wages Expense 18,200 An analysis of the accounts shows the following. 1. The equipment depreciates $364 per month. 2. Half of the unearned rent revenue was earned during the quarter....

  • The lodger of Monty Corp. on March 31 of the current year includes the selected accounts...

    The lodger of Monty Corp. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared Credit Debit $4,500 5,400 37.500 Supplies Prepaid Insurance Equipment Accumulated Depreciation - Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $12600 30,000 18,600 90.000 0 21.000 An analysis of the accounts shows the following 1 2 The equipment depreciates $420 per month Half of the unearned rent revenue was earned during...

  • The ledger of Pharoah Company on March 31 of the current year includes the selected accounts...

    The ledger of Pharoah Company on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Credit Debit $8,700 Supplies Prepaid Insurance 10,440 Equipment 72,500 Accumulated Depreciation-Equipment $24,360 Notes Payable Unearned Rent Revenue 58,000 35,960 174,000 Rent Revenue Interest Expense Salaries and Wages Expense 40,600 An analysis of the accounts shows the following 1. The equipment depreciates $812 per month 2. Half of the unearned rent revenue was earned during the quarter. 3....

  • The ledger of Pina Colada Corp. on March 31 of the current year includes the selected...

    The ledger of Pina Colada Corp. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Debit Credit Supplies $3,600 Prepaid Insurance 4,320 Equipment 30,000 Accumulated Depreciation Equipment $10,080 Notes Payable 24,000 Unearned Rent Revenue 14,880 Rent Revenue 72,000 Interest Expense Salaries and Wages Expense 16,800 An analysis of the accounts shows the following. 1. The equipment depreciates $336 per month. 2. Half of the unearned rent revenue was earned during the...

  • The ledger of Splish Brothers Inc. on March 31 of the current year includes the selected...

    The ledger of Splish Brothers Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Credit Debit $3,100 4,140 29,100 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $8,730 21,500 11,150 59,900 0 13,600 An analysis of the accounts shows the following. 1. 2. 3. The equipment depreciates $320 per month. Half of the unearned rent revenue was earned during...

  • The ledger of Swifty Corporation on March 31 of the current year includes the selected accounts...

    The ledger of Swifty Corporation on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Credit Debit $3,440 4,320 27,300 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $8,190 18,500 11,050 60,200 0 13,400 An analysis of the accounts shows the following. 1. 2. 3. The equipment depreciates $350 per month. Half of the unearned rent revenue was earned during the...

  • The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts...

    The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Credit Debit $3,640 2,700 28,900 Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $8,670 18,100 11,250 61,500 0 14,200 An analysis of the accounts shows the following. 1. 2. 3. 4. The equipment depreciates $400 per month. Half of the unearned rent revenue was earned...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT