Accounting Homework chp 3 and 4

Accounting Homework chp 3 and 4 - PR 3-1A Journa l Date Aug...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
PR 3-1A. Journa l Date Description Debit Credit Aug 31 supplies on Expense 900 supplies on Expense 900 Supplies used ($900) 3,150 Aug 31 Unearned rent 3125 Rent revenue 3125 rent earned (9,375/3months) Aug 31 Accounts receivable 9,375 Fees Earned 9,375
Image of page 1

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

View Full Document Right Arrow Icon
Accrued fees ($9,375) Aug 31 Wages Expense 1,200 Wages payable 1,200 Accrued wages Aug 31 Depreciation Expense 1,600 Accum,Depreciation -office equipment 1,600 Depreciation on office equipment The difference between adjusting entries and entries that would be made to correct errors is. Adjusting entries would also encompass entries to correct errors. Standard adjusting entries are usually used to adjust things like accruals. If you pay insurance, you may post it to prepaid insurance. Then at year end, you calculate how much is still prepaid and the rest is expensed. Or you calculate how much was expensed and the rest is kept in prepaid. Entries to correct errors are also adjusting entries. But not all adjusting entries are for correcting errors.
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern