fice Supplies 1900 Equipment 19500 Accumulated Depreciation\u00e2Equipment 4300

Fice supplies 1900 equipment 19500 accumulated

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Office Supplies1,900Equipment19,500Accumulated Depreciation—Equipment$4,300 Accounts Payable3,100Salaries PayableUnearned Revenue2,700Common Stock37,800Dividends9,000Service Revenue16,100Salaries Expense3,200Rent ExpenseDepreciation Expense—EquipmentAdvertising Expense1,300Supplies ExpenseTotal$64,000$64,000Requirement 1.Journalize the adjusting entries on December 31. (Record debitsfirst, then credits. Select the explanation on the last line of the journal entrytable.)a.On December15, Adveta contracted to perform services for a client receiving $2,700in advance. Advetarecorded this receipt of cash as Unearned Revenue. As of December31, Advetahas completed $2,000of the services. b.Advetaprepaid two months of rent on December 1.(Assume the Prepaid Rent balance as shown on the unadjusted trial balance represents the two months of rent prepaid on December1.) c.Advetaused $500of office supplies.
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d.Depreciation for the equipment is $500 . e.Advetareceived a bill forDecember's onlineadvertising, $1,000. Advetawill not pay the bill until January.(Use AccountsPayable.) f.Advetapays its employees on Monday for the previousweek's wages. Its employees earn $6,500for afive-day work week. December 31 falls on Wednesdaythis year. g.On October1, Advetaagreed to provide afour-month air system check(beginning October1) for a customer for $2,000. Advetahas completed the system check every month but payment has not yet beenreceived and no entries have been made.
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Requirement 2. TheT-accounts, along with their unadjusted balances have been opened for you. Post the adjusting entries to theT-accounts. TheT-accounts, along with their unadjustedbalances, ifapplicable, have been opened for you. Post the adjusting entries to theT-accounts using the corresponding letters(a) through(g) as posting references. Use a"Bal." posting reference to show the ending balance of each account. Cash Accounts Payable Service Revenue Dec. 31 7,700 3,100 Dec. 31 16,100 Dec. 31 1,000 (e) 2,000 (a) 1,500 (g) Bal. 7,700 4,100 Bal. 19,600 Bal. Accounts Receivable Salaries Payable Salaries Expense Dec.
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  • Fall '10
  • MANAGE
  • Expense, Prepaid rent, Generally Accepted Accounting Principles, Service Revenue, e. Adveta

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