Chapter 3 Intermediate Accounting

Chapter 3 Intermediate Accounting - Name: Jamal Strickland...

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abcb695f28a570b074849d8d0d65d7a2eb2bec4b.xlsx, E3-5, Page 1 of 3, 03/05/2012, 12:31:18 Name: Jamal Strickland Date: 08/26/11 Instructor: Benton Course: Inter. Accounting Debit Credit Prepaid Insurance $3,600 Supplies 2,800 Equipment 25,000 Accumulated Depreciation - Equipment $8,400 Notes Payable 20,000 Unearned Rent Revenue 6,300 Rent Revenue 60,000 Interest Expense 0 Salaries and Wage Expense 14,000 Totals: $45,400 $94,700 An analysis of the accounts shows the following: $250 $500 $650 $300 Depreciation Expense Interest Payable Insurance Expense Supplies Expense 1 Depreciation Expense 750 Accumulated Depreciation- Equipment 750 Text / Memo Line - Optional 2 Unearned Rent 2,100 Rent Revenue 2,100 Text / Memo Line - Optional 3 Interest Expense 500 Interest Payable 500 Text / Memo Line - Optional 4 Supplies Expense 2,150 Supplies 2,150 Text / Memo Line - Optional 5 Insurance Expense 900 Prepaid Insurance 900 Text / Memo Line - Optional Intermediate Accounting , 14 th Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse E3-5 (Adjusting Entries) The ledger of Chopin Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. 1. The equipment depreciation per month is: 2. One-third of the unearned rent was earned during the quarter. 3. Interest accrued for the month on notes payable is: 4. Supplies on hand total: 5. The monthly insurance expiration rate is: Instructions: Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are: (Omit explanations.)
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This note was uploaded on 03/05/2012 for the course BUS 300 taught by Professor Greg during the Fall '11 term at Oglethorpe.

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Chapter 3 Intermediate Accounting - Name: Jamal Strickland...

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