EXERCISES-Chapter 1-2-3-4

To record annual depreciation expense e to record

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Unformatted text preview: ce c. To record revenue earned that was previously received as cash in advance d. To record annual depreciation expense e. To record revenue earned but not yet billed (nor recorded) Crazy Young –TRIAL BALANCE December 31, N Using the following information + prepare adjusting entries + Adjusted trial balance from unadjusted one Account Title Cash Supplies Equipment Accum. depr. - Equip. Accounts receivable Interest payable Trial Balance Dr. Cr. 4300 700 36000 Salary Payable Josie Smith, Capital Josie Smith, W/D Unearned Revenue Service revenue Salary expense Supplies expense Depreciation expense Interest expense Totals 39,000 1,000 3,000 42,000 42,000 4 2/12/2014 Crazy Young: 1.3, Dec, N: Purchased $700 of office supplies for cash. An inventory at month end indicated that $200 in office supplies remained. 2, Dec N, received 3,000 cash of 3-month contract from ACC for providing service which began from 1, Dec 3a, Crazy Young has to be charged x% interest monthly for a loan 31, Dec N, the interest is $100 3b, Employees at Crazy are paid every Friday. • • • • ADJUSTING TH...
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This document was uploaded on 03/26/2014.

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