The term accrued expense refers to an expense of this type An accrued expense

The term accrued expense refers to an expense of this

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10: Reference Date Accounts and Explanation Debit Credit (a) Jul. 31 Depreciation Expense 300 Accumulated Depreciation 300 To record depreciation. (b) Jul. 31 Rent Expense 600 Prepaid Rent 600 To record rent expense. (c) Jul. 31 Interest Expense 400 Interest Payable 400 To accrue interest expense. (d) Jul. 31 Salaries Expense 7,200 Salaries Payable 7,200 To accrue salaries expense. (e) Jul. 31 Unearned Revenue 1,000 Service Revenue 1,000 To record service revenue that was collected in advance. (f) Jul. 31 Supplies Expense 500 Office Supplies 500 To record office supplies used. Date Accounts and Explanation Debit Credit (a) Jul. 31 Depreciation Expense 300 Accumulated Depreciation 300 To record depreciation. (b) Jul. 31 Rent Expense 600 Prepaid Rent 600 To record rent expense. (c) Jul. 31 Interest Expense 400 Interest Payable 400 To accrue interest expense. (d) Jul. 31 Salaries Expense 7,200 Salaries Payable 7,200 To accrue salaries expense. (e) Jul. 31 Unearned Revenue 1,000 Service Revenue 1,000 To record service revenue that was collected in advance. (f) Jul. 31 Supplies Expense 500 Office Supplies 500 To record office supplies used.
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YOU ANSWERED: Date Accounts and Explanation Debit Credit (a) Jul. 31 nothing nothing nothing nothing nothing nothing nothing Date Accounts and Explanation Debit Credit (b) Jul. 31 nothing nothing nothing nothing nothing nothing nothing Date Accounts and Explanation Debit Credit (c) Jul. 31 nothing nothing nothing nothing nothing nothing nothing ( Weekly payroll / Days in workweek ) x Days to accrue = Salaries Expense ( nothing / nothing ) x nothing = nothing Date Accounts and Explanation Debit Credit (d) Jul. 31 nothing nothing nothing nothing nothing nothing nothing Date Accounts and Explanation Debit Credit (e) Jul. 31 nothing nothing nothing nothing nothing nothing nothing Date Accounts and Explanation Debit Credit
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  • Fall '10
  • MANAGE
  • Prepaid rent, Generally Accepted Accounting Principles

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