acis 3115 homework 1

acis 3115 homework 1 - Audrey Griffin Michael Hahl Team...

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Audrey Griffin Michael Hahl Team Homework Assignment 1 MWF 9:05 Problem 1: Pasta World December 31, 2009 year-end adjusting entries 1. Dec. 31 Depreciation Expense 10,000 Accumulated depreciation-equipment 10,000 (to record depreciation) 2. Dec. 31 Bad Debt Expense 5,500 Allowance for uncollectible accounts 5,500 (to record bad debt expense) 3. Dec. 31 Wages Expense 1,500 Wages Payable 1,500 (to record accrued wages) 4. Dec. 31 Interest Expense 1,500 Interest Payable 1,500 (to record accrued interest) 5. Dec. 31 Interest Receivable 1,333.33
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Interest Revenue 1,333.33 (to record accrued interest earned) 6. Dec. 31 Prepaid Insurance 6,000 Insurance Expense 6,000 (to record insurance as prepaid) Insurance Expense 2,250 Prepaid Insurance 2,250 (to record expired prepaid insurance) 7. Dec. 31 Supplies Expense 700 Supplies 700 (to record supplies used) 8. Dec. 31 Sales Revenue 2,000 Unearned Revenue 2,000 (to record sale as unearned) 9. Dec. 31 Prepaid Rent 1,000 Rent Expense 1,000 Cash 2,000 (to record rent paid for this month and next month) Problem 2: #1) Vito’s Pizza
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acis 3115 homework 1 - Audrey Griffin Michael Hahl Team...

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