Class Participation Algorithmic Problem_Chapter Three 2A

# Class Participation Algorithmic Problem_Chapter Three 2A -...

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ssignment score: 100% Score for selected take: 100% (10/10) 1. Your answer: Problem 3-2A (Algorithmic) Adjusting entries Selected account balances before adjustment for Oval Realty at April 30, 2010, the end of the current year, are shown below. Debits Credits Accounts Receivable \$67,440 Accumulated Depreciation \$10,390 Depreciation Expense _ Equipment 104,000 Fees Earned 393,850 Prepaid Rent 8,500 Rent Expense _ Supplies 2,020 Supplies Expense _ Unearned Fees 9,310 Wages Expense 132,860 Wages Payable _ Journalize the six adjusting entries required at April 30, based on the data that is needed for

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Unformatted text preview: year-end adjustments. a. Supplies on hand at April 30, \$610. Account Debit Credit Supplies Expense 1410 Supplies 1410 b. Depreciation of equipment during year, \$1,010. Account Debit Credit Depreciation Expense 1010 Accumulated Depreciation 1010 c. Rent expired during year, \$6,200. Account Debit Credit Rent Expense 6200 Prepaid Rent 6200 d. Wages accrued but not paid at April 30, \$1,960. Account Debit Credit Wages Expense 1960 Wages Payable 1960 e. Unearned fees at April 30, \$3,910. Account Debit Credit Unearned Fees 5400 Fees Earned 5400 f. Unbilled fees at April 30, \$4,650. Account Debit Credit Accounts Receivable 4650 Fees Earned 4650...
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## This note was uploaded on 08/12/2010 for the course ACCT 1A taught by Professor Seyedin during the Spring '10 term at Foothill College.

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Class Participation Algorithmic Problem_Chapter Three 2A -...

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