03-e3-3 - Name: Shekitta Ferrell Date: 03/11/09 Instructor:...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
FileName: 09dfed35dab9e5c4a778ee7bc1a934d2f8bd8bec.xls, Tab: Exercise E3-3, Page 1 of 3, 10/06/2009, 02:47:17 Name: Shekitta Ferrell Date: 03/11/09 Instructor: Course: Debit Credit Prepaid Insurance $3,600 Supplies $2,800 Equipment $25,000 Accumulated Depreciation - Equipment $8,400 Notes Payable $20,000 Unearned Rent $12,000 Rent Revenue $60,000 Interest Expense $0 Wages Expense $14,000 An analysis of the accounts shows the following: 1. The equipment depreciates $300 per month. 2. One-third of the unearned rent was earned during the quarter. 3. Interest has accrued on the notes payable $500 4. Supplies on hand total $1,100 5. Insurance expires at the monthly rate of $200 Instructions: Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are: Depreciation Expense Interest Payable Insurance Expense Supplies Expense 1 Mar. 31 Insurance Expense 3,600 Prepaid insurance 3,600 Prepaid insurance 2 Mar. 31 Supplies Expense 2,800 Account title
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/31/2009 for the course ACCOUNTING 362 taught by Professor Hamman during the Spring '09 term at University of Phoenix.

Page1 / 3

03-e3-3 - Name: Shekitta Ferrell Date: 03/11/09 Instructor:...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online