UGBA102A_HW4_VictorGiner.pdf - UGBA 102A Introduction to Financial Accounting Victor Giner Ciaurriz Homework Chapter 4 E4 – 8 Req 1 a Accrued expense

UGBA102A_HW4_VictorGiner.pdf - UGBA 102A Introduction to...

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UGBA 102A Introduction to Financial Accounting Victor Giner Ciaurriz Homework Chapter 4 E4 – 8 Req. 1 a) Accrued expense b) Deferred expense c) Accrued expense d) Deferred expense e) Deferred expense f) Deferred expense g) Accrued expense Req. 2 Account name Debit Credit A Wages expense Wages payable 2,700 2,700 B Office supplies expense Office supplies 675 675 C Rent receivable Rent revenue 1,120 1,120 D Depreciation expense Accumulated depreciation 12,100 12,100 E Insurance expense Prepaid insurance 600 600 F Unearned rent revenue Rent revenue 3,200 3,200 G Repair accounts receivable Repair shop revenue 800 800 à Calculation of e) = 2,400 x 6 months used/24 months = 600
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UGBA 102A Introduction to Financial Accounting Victor Giner Ciaurriz E4 – 13 Selected Balance Sheet Accounts Amount to Be Reported at Dec 31 Assets Equipment $25,000 Accumulated Depreciation (2,500) Net value of equipment 22,500 Office supplies 800 Prepaid insurance 750 Selected Income Statement Accounts Amount to Be Reported at the Year Ended December 31 Expenses Depreciation expense $2,500
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