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Service Pro Corp. (SPC) is preparing adjustments for its September 30 year-end. For the following transactions and events, sh
Journal entry worksheet < 2 3 > Record the adjusting entry for Insurance expense of $2,160 representing the cost of a three-y
Journal entry worksheet < 1 2 3 Record the adjusting entry for $1,350 received on August 31 of this year and credited to serv
Journal entry worksheet < 1 2 3 Record the adjusting entry for income tax of 33% on net income before tax of $10,000 Note: En
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Date Particulars Debit ($) Credit ($)
31-Dec Prepaid insurance (2160*35/(3*12 months)) 2100
Insurance expense 2100
(To adjust insurance expense)
31-Dec Service revenue (1350*2/3) 900
Unearned service revenue 900
(To adjust insurance expense)
31-Dec Income tax expense (10000*33%) 3300
Income tax payable 3300
(To record income tax expense for current year)
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