Chapter 3- recitation pr solutions

Chapter 3- recitation pr solutions - P 3-32A Journal DATE...

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P 3-32A Journal DATE ACCOUNTS AND EXPLANATIONS POST. REF. DEBIT CREDIT a. Dec. 31 Salary Expense ($5,000 × 1/5) 1,000 Salary Payable 1,000 To accrue salary expense. b. 31 Insurance Expense 3,000 Prepaid Insurance 3,000 To record insurance expense. c. 31 Supplies Expense 6,400 Supplies ($3,800 + $5,000 – $2,400) 6,400 To record supplies expense. d. 31 Unearned Service Revenue ($4,000 X 3/4) 3,000 Service Revenue 3,000 To record revenue that was collected in advance. e. 31 Depreciation Expense—Equipment 5,500 Depreciation Expense—Trucks 3,000 Accumulated Depreciation— Equipment 5,500 Accumulated Depreciation— Trucks 3,000 To record depreciation expense. Chapter 3 The Adjusting Process 1
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(45-60 min.) P 3-33A Reqs. 1 and 2 (T-Accounts) Cash Accounts Receivable Bal. 7,100 Bal. 19,800 Prepaid Rent Supplies 2,400 (b) 2,000 1,200 (c) 1,000 Bal. 400 Bal. 200 Equipment Accumulated Depreciation Bal. 19,700 3,600 (d) 400 Bal. 4,000 Accounts Payable Salary Payable 3,300 (f) 500 (e) 600 Bal. 500 Bal. 3,900 Unearned Service Revenue Dinah Klein, Capital (a) 1,700 2,800 Bal. 40,000 Bal. 1,100 Dinah Klein, Withdrawals Bal. 9,800 Chapter 3 The Adjusting Process 2
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(continued) P 3-33A Reqs. 1 and 2 (T-Accounts) Service Revenue Salary Expense 15,600 3,800 (a) 1,700 (f) 500 Bal. 17,300 Bal. 4,300 Rent Expense Depreciation Expense (b) 2,000 (d) 400 Bal. 2,000 Bal. 400 Advertising Expense Supplies Expense 1,500 (c) 1,000 (e) 600 Bal. 1,000 Bal. 2,100 Chapter 3 The Adjusting Process 3
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(45-60 min.) P 3-33A Reqs. 1 and 2 (4-Column Accounts) ACCOUNT CASH DATE ITEM JRNL. REF. DEBIT CREDIT BALANCE DEBIT CREDIT Nov. 30 Balance 7,100 ACCOUNT ACCOUNTS RECEIVABLE DATE ITEM JRNL. REF. DEBIT CREDIT BALANCE DEBIT CREDIT Nov. 30 Balance 19,800 ACCOUNT PREPAID RENT DATE ITEM JRNL. REF.
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Chapter 3- recitation pr solutions - P 3-32A Journal DATE...

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