Brief Exercise 3-6, Page 129DateAccount Titles and ExplanationDebitCredit2017July1 Cash15,120 Unearned Service Revenue15,120 31Unearned Service Revenue2,520 Service Revenue2,520 Unearned Service RevenueDateExplanationRefDebitCreditBalanceJuly115,120 15,120 Dec31Adjusting2,520 12,600 Service RevenueDateExplanationRefDebitCreditBalanceDec31Adjusting2,520 2,520
Problem 3-1A, Page138The following adjustments need to made to Krause Consulting for May.1$900 of supplies have been used during the month.2Utilities expense incurred but not paid on May 31, 2017, $250.3The insurance policiy is for 2 years, costing $3,600.4$400 of the balance in the unearned service revenue account ($2,000) remains unearned at th5May 31 is a Wednesday, and employees are paid on Fridays. Krause consulting has two employ6The office furniture has a 5-year life with no salvage value. It is being depreciated at $190 per 7Invoices representing $1,700 of services performed during the month have not been recordedInstructions:(a)Prepare the adjusting entries and journalize for the month of May. Use J1 as the page number(b)(c )Prepare an adjusted trial balance at May 31, 2017.Service Revenue1,700 2017Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as begreference column.(a)J4DateAccount Titles and ExplanationRef.DebitCredit2017Adjusting EntriesMay31Supplies Exp1,500 DateSupplies1,500 201731Utilities Exp250 Accounts Payable250 Date201731Insurance Exp150 Prepaid Insurance150 Date201731Unearned Service Revenue1,600 Service Revenue1,600 Date31Salaries & Wages Exp1,104 2017Salaries & Wages Payable1,104 31Depreciation Exp190 DateAccum Depreciation-Equip190 201731Accounts Receivable1,700 Date
he end of the month.yees who are paid $920 each for a 5-day work week.month for 60 months.d as of May 31.r for your journal.Cash101ExplanationRefDebitCreditBalanceMay31 Balance√4,500 Accounts Receivable112ExplanationRefDebitCreditBalanceMay31 Balance√6,000 31 AdjustingJ41,700 7,700 Supplies126ExplanationRefDebitCreditBalanceMay31 Balance√1,900 31 AdjustingJ41,500 400 Prepaid Insurance130ExplanationRefDebitCreditBalanceMay31 Balance√3,600 31 AdjustingJ4150 3,450 Equipment149ExplanationRefDebitCreditBalanceMay31 Balance√11,400 Accumulated Depreciation - Equipment150ExplanationRefDebitCredit
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Accounting, Generally Accepted Accounting Principles, Alena Co., Hamm Equipment Repair