1.
Arnez Company | ||||
Adjusting Journal Entries - Dec 31 | ||||
S. no. | Date | Accounts and explanation | Debit | Credit |
a. | 31-Dec | Supllies Expense Dr ($3175+$13113-$2794) | $13,494 | |
To Office Supplies | $13,494 | |||
b. | 31-Dec | Insurance Expense Dr (30984-22299) | $8,685 | |
To Prepaid Insurance | $8,685 | |||
c. | 31-Dec | Salaries and wages Expense Dr [$2750*2] | $5,500 | |
To Salaries and wages payable | $5,500 | |||
d. | 31-Dec | Depreciation Expense Dr | $32,600 | |
To Accumulated Depreciation- Building | $32,600 | |||
e. | 31-Dec | Rent Receivable Dr | $3,100 | |
To Rent Revenue | $3,100 | |||
f. | 31-Dec | Unearned rent Dr ($2809*2) | $5,618 | |
To Rent Revenue | $5,618 |
2.
Journal Entries | ||||
S. no. | Date | Accounts and explanation | Debit | Credit |
c. | 06-Jan | Salaries and wages payable Dr ($2750*2) | $5,500 | |
Salaries and wages expense Dr ($2750*3) | $8,250 | |||
To Office Supplies | $13,750 | |||
(To record payment of accrued and current salaries) | ||||
e. | 15-Jan | Cash Dr | $6,200 | |
To Rent Receivable | $3,100 | |||
To Rent Revenue | $3,100 | |||
(To record receipt of 2 months rent) |
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Arnez Company's annual accounting period ends on December 31. The following information concerns the adjusting entries...
Arnez Company's annual accounting period ends on December 31, 2017. The following information concerns the adjusting entries to be recorded as of that date. a. The Office Supplies account started the year with a $3,675 balance. During 2017, the company purchased supplies for $15,178, which was added to the Office Supplies account. The inventory of supplies available at December 31, 2017 totaled $3,234 b. An analysis of the company's insurance policies provided the following facts. Policy A B C Date...
Arnez Company's annual accounting period ends on December 31, 2019. The following information concerns the adjusting entries to be recorded as of that date. a. The Office Supplies account started the year with a $4,225 balance. During 2019, the company purchased supplies for $17,449, which was added to the Office Supplies account. The inventory of supplies available at December 31, 2019, totaled $3,718. b. An analysis of the company's insurance policies provided the following facts. Policy Months of Coverage 24...
Arnez Company's annual accounting period ends on December 31, 2019. The following information concerns the adjusting entries to be recorded as of that date. a. The Office Supplies account started the year with a $4,300 balance. During 2019, the company purchased supplies for $17,759, which was added to the Office Supplies account. The inventory of supplies available at December 31. 2019, totaled $3,784 b. An analysis of the company's insurance policies provided the following facts. Months of Policy Date of...
Arnez Company’s annual accounting period ends on December 31, 2019. The following information concerns the adjusting entries to be recorded as of that date. The Office Supplies account started the year with a $3,550 balance. During 2019, the company purchased supplies for $14,662, which was added to the Office Supplies account. The inventory of supplies available at December 31, 2019, totaled $3,124. An analysis of the company's insurance policies provided the following facts. Policy Date of Purchase Months of Coverage...
Problem 3-2A Preparing adjusting and subsequent journal entries LO A1, P1 Arnez Company's annual accounting period ends on December 31, 2017. The following information concerns the adjusting entries to be recorded as of that date. a. The Office Supplies account started the year with a $3.775 balance. During 2017, the company purchased supplies for $15,591 which was added to the Office Supplies account. The inventory of supplies available at December 31, 2017, totaled $3,322. b. An analysis of the company's...
Problem 3-2A Preparing adjusting and subsequent journal entries LO C1, A1, P1 Arnez Company's annual accounting period ends on December 31, 2017. The following information concerns the adjusting entries to be recorded as of that date. a. The Office Supplies account started the year with a $4,375 balance. During 2017, the company purchased supplies for $18,069, which was added to the Office Supplies account. The inventory of supplies available at December 31, 2017, totaled $3,850. b. An analysis of the...
Arnez Company's annual accounting period ends on December 31, 2019. The following information concerns the adjusting entries to be recorded as of that date. a. The Office Supplies account started the year with a $2,675 balance. During 2019, the company purchased supplies for $11,048, which was added to the Office Supplies account. The inventory of supplies available at December 31, 2019, totaled $2,354 b. An analysis of the company's insurance policies provided the following facts. Policy Date of Purchase April...
Arnez Company's annual accounting period ends on December 31, 2019. The following information concerns the adjusting entries to be recorded as of that date. a. The Office Supplies account started the year with a $4,475 balance. During 2019, the company purchased supplies for $18,482, which was added to the Office Supplies account. The inventory of supplies available at December 31, 2019, totaled $3,938. b. An analysis of the company's insurance policies provided the following Policy Months of Coverage Date of...
Arnez Company's annual accounting period ends on December 31, 2019. The following information concerns the adjusting entries to be recorded as of that date. a. The Office Supplies account started the year with a $3,200 balance. During 2019, the company purchased supplies for $13,216, which was added to the Office Supplies account. The inventory of supplies available at December 31, 2019, totaled $2,816. b. An analysis of the company's insurance policies provided the following facts. Policy A Months of Coverage...
Arnez Company's annual accounting period ends on December 31, 2019. The following information concerns the adjusting entries to be recorded as of that date. a. The Office Supplies account started the year with a $4.475 balance. During 2019, the company purchased supplies for $18,482, which was added to the Office Supplies account. The inventory of supplies available at December 31, 2019, totaled $3,938. b. An analysis of the company's insurance policies provided the following facts. Policy Months of Coverage Date...