The ledger of Piper Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared
The ledger of Piper Rental Agency on March 31 of the current year includes the followingselected accounts before adjusting entries have been prepared.Debit CreditPrepaid Insurance $ 3,600Supplies 2,800Equipment 25,000AccumulatedDepreciation—Equipment $ 8,400Notes Payable 20,000Unearned Rent 9,900Rent Revenue 60,000Interest Expense –0–Wages Expense 14,000An analysis of the accounts shows the following.1. The equipment depreciates $400 per month.2. One-third of the unearned rent was earned during the quarter.3. Interest of $500 is accrued on the notes payable.4. Supplies on hand total $700.5. Insurance expires...
E3-7 The ledger of Passehl Rental Agency on March 31 of the current year includes the selected accounts, shown below, before adjusting entries have been prepared. no te to Credita Debit $ 3,600 2,800 25,000 Prepaid Insurance T BC Supplies Equipment Accumulated Depreciation Equipment S Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $ 8,400 20,000 10,200 60,000 ontled -O- 14,000 An analysis of the accounts shows the following. 1. The equipment depreciates $400 per...
E3-5 (LO 3) Adjusting Entries The ledger of Duggan Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Credit $ Debit 3,600 2,800 25,000 $ Prepaid Insurance Supplies Equipment Accumulated Depreciation Equipment Notes Payable Uneamed Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense 8,400 20.000 9,300 60.000 14,000 An analysis of the accounts shows the following 1. The equipment depreciates $250 per month 2 One-third of the...
The ledger of Bramble Corp. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared CreditDebitSupplies$3,160Prepaid insurance3,870Equipment29,300Accumulated Depreciation-Equipment$8,790Notes Payable19,300Unearned Rent Revenue11,300Rent Revenue55,800Interest Expense0Salaries and Wages Expense12,200An analysis of the accounts shows the following 1. The equipment depreciates $270 per month 2. Half of the uneared rent revenue was earned during the quarter 3. Interest of $550 is accrued on the notes payable 4. Supplies on hand total $950. 5. Insurance expires at the rate...
The ledger of Chan Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared: Debit Credit Prepaid Insurance $ 2,700 Supplies 2,100 Equipment 18,750 Accumulated Depreciation—Equipment $ 6,300 Notes Payable 15,000 Unearned Rent Revenue 6,975 Rent Revenue 45,000 Interest Expense –0– Salaries and Wage Expense 10,500 ...
The ledger of Kingbird, Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. $$ \begin{array}{lrr} & \text { Debit } & \text { Credit } \\ \text { Supplies } & \$ 3,690 & \\ \text { Prepaid Insurance } & 2,340 & \\ \text { Equipment } & 29,600 & \\ \text { Accumulated Depreciation–Equipment } & & \$ 8,880 \\ \text { Notes Payable } & 22,000 \\ \text...
The ledger of Crane Rental Agency on March 31 of the current year includes the selected accounts, shown below, before adjusting entries have been prepared. Credit Debit $ 14,400 2,900 25,000 $ 8.100 Prepaid Insurance Supplies Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense 23,000 12,600 61,000 0 11,000 An analysis of the accounts shows the following. 1. 2. 3. The equipment depreciates $400 per month. One-third of the unearned rent...
The ledger of Swifty Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. ials Debit Credit Prepaid Insurance $3,252 Supplies 2,604 Equipment 27,460 Accumulated Depreciation Equipment $7,905 Notes Payable 19,990 Unearned Rent Revenue 3,450 Rent Revenue 62,420 Interest Expense -0- Salaries and Wages Expense 14,690 An analysis of the accounts shows the following. 1. The equipment depreciates $263 per month. 2. One-third of the unearned rent was recognized as...
Prepare adjusting entries from selected account data. E3.7 (LO 2, 3) The ledger of Passehl Rental Agency on March 31 of the current year includes the se- lected accounts, shown below, before adjusting entries have been prepared. Debit Credit Prepaid Insurance $ 3,600 Supplies 2,800 Equipment 25,000 Accumulated Depreciation Equipment $ 8,400 Notes Payable 20,000 Unearned Rent Revenue 10,200 Rent Revenue 60,000 Interest Expense Salaries and Wages Expense 14,000 An analysis of the accounts shows the following. 1. The equipment...
The ledger of Cullumber Company on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared.An analysis of the accounts shows the following .1. The equipment depreciates $320 per month 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $300 is accrued on the notes payable. 4. Supplies on hand total $940. 5. Insurance expires at the rate of $270 per month Prepare the adjusting entries at March 31, assuming that adjusting entries...