HW#4 - 750 Interest Payable (+L) 750 Revenue -Expense =Net...

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Anthony Marsala_x000D_ACC201 Sec. 24 1 Unearned Fees (-L) 14,400      Client Fees Earned (+R, +SE) 14,400 Revenue     -Expense     =Net Income Assets     = Liabilities   +S.E. I NE I NE D I 2 Insurance Expense (+E, -SE) 3,200      Prepaid Insurance (-A) 3,200 Revenue     -Expense     =Net Income Assets     = Liabilities   +S.E. NE I D D NE D 3 Rent Expense (+E, -SE) 7,300      Prepaid Rent (-A) 7,300 Revenue     -Expense     =Net Income Assets     = Liabilities   +S.E. NE I D D NE D 4 Supplies Expense (+E, - SE) 1,700      Supplies (-A) 1,700 Revenue     -Expense     =Net Income Assets     = Liabilities   +S.E. NE I D D NE D 5 Depreciation Expense (+E, -SE) 3,000      Accumulated Depreciation (+XA,  3,000 Revenue     -Expense     =Net Income Assets     = Liabilities   +S.E. NE I D D NE D 6 Interest Expense (+E, -SE)
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Unformatted text preview: 750 Interest Payable (+L) 750 Revenue -Expense =Net Income Assets = Liabilities +S.E. NE I D NE I D 7 Salaries Expense (+E, -SE) 10,500 Salaries Payable (+L) 10,500 Revenue -Expense =Net Income Assets = Liabilities +S.E. NE I D NE I D 8 Interest Receivable (+A) 70 Interest Revenue (+R, +SE) 70 Revenue -Expense =Net Income Assets = Liabilities +S.E. I NE I I NE I Revenues Expenses Net Income Unadjusted Totals 508,450 453,940 Adjustments 1 14,400 2 3,200 3 7,300 4 1,700 5 3,000 6 750 7 10,500 8 70 Total 522,920 480,390 $42,530 9 Income Tax Expense (+E, -SE) 12,759 Income Tax Payable (+L) 12,759 Revenue -Expense =Net Income Assets = Liabilities +S.E. NE I D NE I D...
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This note was uploaded on 10/04/2011 for the course ACC 201 taught by Professor Bokmier during the Fall '10 term at Michigan State University.

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