Question

fill journal and ledger

Desoto Company must make three adjusting entries on December 31, 2019 a. Suppliles used, $9,400 (supplles totaling $14,800 were purchased on December 1, 2019, and debited to the Supplies account). b. Explred Insurance, $6,600; on December 1, 2019, the firm pald $39,600 for six months Insurance coverage In advance and deblted Prepald Insurance for this amount. c. Depreclation expense for equlpment, $4,200. Required Prepare the Journal entrles for these adjustments and post the entries to the general ledger accounts Complete this question by entering your answers in the tabs below General Journal Ledger Post the entries to the general ledger accounts Supplies Account No. 121 Prepaid Insurance Account No. 131 Date Debit Credit Balance Date Debit Credit Balance Dec 1, 2019 Dec 01, 2019 Dec 31, 2019 Dec 31, 2019 Accumulated Depreciation Expense- Equipment Account No. 142 Account No. 517 Equipment Debit Credit Balance Date Debit Credit Balance Dec 31, 2019 Dec 31, 2019 Insurance Expense Account No. 521 Supplies Expense Account No. 523 Debit Credit Balance Date Debit Credit Balance Dec 31, 2019 Dec 31, 2019 < General Jourmal Ledger

Answer 1

Journal

Date	Account title	Debit	Credit
a	Supplies expense	9,400
	Supplies		9,400
b	Insurance expense	6,600
	Prepaid insurance		6,600
c	Depreciation expense	4,200
	Accumulated depreciation- Equipment		4,200

Ledger

Supplies

Date	Debit	Credit	Balance
Dec. 1, 2019	14,800
Dec. 31, 2019		9,400
			5,400

Prepaid insurance

Date	Debit	Credit	Balance
Dec. 1, 2019	39,600
Dec. 31, 2019		6,600
			33,000

Insurance expense

Date	Debit	Credit	Balance
Dec. 31, 2019	6,600
			6,600

Supplies expense

Date	Debit	Credit	Balance
Dec.31, 2019	9,400
			9,400

Depreciation expense - Equipment

Date	Debit	Credit	Balance
Dec. 31, 2019	4,200
			4,200

Accumulated depreciation- Equipment

Date	Debit	Credit	Balance
Dec. 31, 2019		4,200
			4,200

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