#2 PLEASE HELP C. Problems: Series B

Question

Question

#2 PLEASE HELP

Answer 1

Answer #1

Answer-

General Journal	Debit	Credit
Accounts Receivable	$19,750
Fees Earned		$19,750
Accrued fees earned.

Supplies Expense	8150
Supplies		8150
Supplies used ($12300 – $4150).

Wages Expense	2700
Wages Expens		2700
Accrued wages.

Unearned Rent	3000
Rent Revenue		3000
Rent earned ($9000/3)

Depreciation Expense	3200
Accumulated Depreciation—Equipment		3200
Depreciation expense.

Adjusting Entries
Adjusting entries are a planned part of the accounting process to update the accounts.
Correcting entries
Correcting entries are not planned but arise only when necessary to correct errors.

Answer 2

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