Question

I e Search Raionul Oode Ara 05 Chap 3. Practice 11: Protected View - Fle Home Insert Page Layout Formulas Data RE View Help PROTECTED VIEW Be carefules from the Internet can contain viruses. Unless you need to edit, is safer to stay in Protected View Share Comments Enableding K20 f E G N O P O R 5 т v w Document Recovery Excel has recovered the folosing files. Save the one you wish to x Grade Calistor Generals. Veron created from the il 270001124 PM B C I K M | |LO 2,31 The Blue Thumb Lawn Care Company began operations on April 1. At April 30, the trial balance shows the tollowing balances for selected accounts. 2 3 Prepaid Insurance 4 Equipment 28.000 > Notes Payable 20/000 6 Unearned Service Revenu 4.200 7 Service Revenue 1.800 3 Analysis reveals the tollowing additional data. 10 1. Prepaid insurance is the cost of a 2-year insurance policy, effective April 1. 11 2.Depreciation on the equipment is 5500 per month 12 3. The nate payable is dated April 1. It is for 1 year at 12% Interest rate. 13 4. $700 of the unearned service revenue was earned in April. 14 5.Lawn services performed for ather customers but not recorded at April 30 totaled $1,500. 15 16 Instructions 17 Prepare the adjusting entries for the month of April. Show computations. 18 The entry date for all transactions is 4/30 19 20 GENERAL JOURNAL 21 Date Account Name Debit Credit 2 22 23 24 25 26 27 28 29 30 31 32 34 35 36 37 38 39 0 Which fir do I want to? 41 Coce A

Answer 1

Date	Account Name	Debit	Credit
4/30	Insurance expense ($3,600/24*1)	$      150
	Prepaid insurance		$      150
	(To record insurance expired)
4/30	Depreciation expense	$      500
	Accumulated depreciation - Equipment		$      500
	(To record depreciation expense)
4/30	Interest expense ($20,000*12%*1/12)	$      200
	Interest payable		$      200
	(To record interest expense)
4/30	Unearned service revenue	$      700
	Service revenue		$      700
	(To record revenue earned during the month)
4/30	Accounts receivable	$   1,500
	Service revenue		$   1,500
	(To record service performed but not billed)

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