1125 prepaid insurance

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Unformatted text preview: surance ..................................................................... 1,125 2. Aug. 31 Supplies Expense ($2,600 – $450) .................................................. 2,150 Supplies ..................................................................................... 2,150 3. Aug. 31 Depreciation Expense ...................................................................... 1,080 Accumulated Depreciation— Buildings ................................................................................. 1,080 ($120,000 – $12,000 = $108,000; $108,000 X 4% = $4,320 per year; $4,320 X 1/4 = $1,080) Aug. 31 Depreciation Expense ...................................................................... 360 Accumulated Depreciation— Equipment .............................................................................. 360 ($16,000 – $1,600 = $14,400; $14,400 X 10% = $1,440; $1,440 X 1/4 = $360) 4. Aug. 31 Unearned Rent Revenue .................................................................. 3,800 Rent Revenue ............................................................................ 3,800 5. Aug. 31 Salaries and Wages Expense .......................................................... 375 Salaries and Wages Payable .................................................... 375 6. Aug. 31 Accounts Receivable ....................................................................... 800 Rent Revenue ............................................................................ 800 7....
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This document was uploaded on 03/26/2014.

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