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B-03.09 Problem

# B-03.09 Problem - REVENUES 12/31/X1 18,000 25,000 12/1/X1...

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B-03.09 Professor Wayne Campbell recently lectured on adjusting entries. As he did so, he prepared T-accounts on a marker board to illustrate the key points he was making. As he was erasing his illustrations from the board, Candice Greenhaw arrived late to class. She was only able to copy the following portions of the T-account illustrations from the board. You are to help Candice recreate the lecture by completing the missing portions of each T- account. Then, prepare the adjusting entries for December 31, 20X1. Example 1: Unearned Revenues

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Unformatted text preview: REVENUES 12/31/X1 18,000 25,000 12/1/X1 178,976 Beg. Bal. 23,900 12/15/X1 12/31/X1 18,000 30,900 Example 2: Prepaid Insurance Insurance Expense Beg. Bal. 15,000 12/31/X1 7,000 12/10/X1 5,000 20,000 13,000 1 of 2 B-03.09 Example 3: Salaries Expense Salaries Payable Beg. Bal. 21,500 12/31/X1 12/15/X1 2,500 12/31/X1 27,000 Example 4: Depreciation Expense Accumulated Depreciation Beg. Bal. 23,900 89,000 Beg. Bal. 12/31/X1 12/31/X1 25,200 Example 5: Supplies Supplies Expense Beg. Bal. 12/31/X1 12/9/X1 3,400 3,400 1,600 2 of 2...
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