Question

Question 4 of 6 View Policies Current Attempt in Progress The ledger of Pina Colada Corp. on July 31, 2022, includes the following selected accounts before adjusting entries have been prepared. Credit Supplies Prepaid Rent Buildings Accumulated Depreciation-Buildings Unearned Service Revenue Debit $ 25,440 3,816 265,000 $148,400 12,190 An analysis of the company's accounts shows the following 1 Supplies on hand at the end of the month totaled $19,716. 2 The balance in Prepaid Rent represents 4 months of rent costs. Employees were owed $3.286 related to unpaid and unrecorded salaries and wages. Depreciation on buildings is $6.360 per year. During the month, the company satished obligations worth $4.982 related to the Uneared Services Revenue. Unpaid and unrecorded maintenance and repairs costs were $2,438. 3 5. 6 Prepare the adjusting entries at July 31 assuming that adjusting entries are made monthly. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Cres 1. 31 2. July 31 July 31 4 July 31 July 31 ly 18 tv

Answer 1

Solution

No	Date	Account title and explanation	Debit	Credit
1	31-Jul	Supplies expense	$       5,724
		Supplies		$     5,724
2	31-Jul	Rent expense	$          954
		Prepaid rent		$        954
3	31-Jul	Salaries and wages expense	$       3,286
		Salaries and wages payable		$     3,286
4	31-Jul	Depreciation expense	$          530
		Accumulated depreciation		$        530
5	31-Jul	Unearned servive revenue	$       4,982
		Service revenue		$     4,982
6	31-Jul	Maintenance expense	$       2,438
		Maintenance expense payable		$     2,438