3-3 - Worksheet Learning Objective: 03-P1 c. The Office...

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Page 3 of 14 http://ezto.mhhm.mcgraw-hill.com/hm_accounting.tpx?todo=printview 4. award: 1 out of 1 point 5. award: 1 out of 1 point Worksheet Learning Objective: 03-P1 b. The Prepaid Insurance account had a $6,000 debit balance at December 31, 2009, before adjusting for the costs of any expired coverage. An analysis of the company’s insurance policies showed that $640 of unexpired insurance coverage remains. General Journal Debit Credit Insurance Expense 5,360 Prepaid Insurance 5,360 c. The Office Supplies account had a $325 debit balance on December 31, 2008; and $3,480 of office supplies were purchased during the year. The December 31, 2009, physical count showed $383 of supplies available. General Journal Debit Credit Office Supplies Expense 3,422 Office Supplies 3,422
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Unformatted text preview: Worksheet Learning Objective: 03-P1 c. The Office Supplies account had a $325 debit balance on December 31, 2008; and $3,480 of office supplies were purchased during the year. The December 31, 2009, physical count showed $383 of supplies available. General Journal Debit Credit Office Supplies Expense 3,422 Office Supplies 3,422 d. One-fifth of the work related to $15,000 of cash received in advance was performed this period. General Journal Debit Credit Unearned Fee Revenue 3,000 Fee Revenue 3,000 Worksheet Learning Objective: 03-P1 d. One-fifth of the work related to $15,000 of cash received in advance was performed this period. General Journal Debit Credit Unearned Fee Revenue 3,000 Fee Revenue 3,000...
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