Problem 4-9 (Video) The following information is available for Skysong Company:

Question

Problem 4-9 (Video) The following information is available for Skysong Company: T-Account Balance T-Account Balance before Adjustments after Adjustments repaid Rent Prepaid insurance 13,300 38,400 Salaries Payable 2,600 Service Revenue 94.100 nsurance Expense Depreciation Expense Salaries and Wages Expense 3,800 repare the adjusting journal entries that gave rise to the changes indiceted. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is requfred, select "No Entry for the account titles and enter O for the No. Account Titles and Explanation Debit Credit (Adjusted for expiration of prepeid rent.) (Adjusted for expiration of prepaid insurance. Inourred, but did not pay, saleries.) (Rendered services for cash collected in advance.) Click if you would like to Show Work for this question: On Show Work

Explanation / Answer

Adjusting entries

No

Account titles and explanation

Debit

Credit

1

Rent Expense

$ 2,600.00

            Prepaid Rent

$ 2,600.00

(Adjustment of Expiration of Prepaid rent)

2

Insurance Expense

$     900.00

             Prepaid Insurance

$     900.00

(Adjustment of Expiration of Prepaid insurance)

3

Depreciation Expense

$ 2,100.00

                  Accumulated Depreciation

$ 2,100.00

(Depreciation Property plant and equipment)

4

Salaries expense

$ 1,300.00

              Salaries payable

$ 1,300.00

(Incurred but did not paid salaries)

5

Unearned revenue

$     300.00

             Service Revenue

$     300.00

(Rendered services for cash collected in advance)

Notes

Working for amounts calculated

Rent Expense

Difference between adjusted and unadjusted balances of each account

Insurance Expense

Depreciation Expense

Salaries expense

Unearned revenue

Adjusting entries

No

Account titles and explanation

Debit

Credit

1

Rent Expense

$ 2,600.00

            Prepaid Rent

$ 2,600.00

(Adjustment of Expiration of Prepaid rent)

2

Insurance Expense

$     900.00

             Prepaid Insurance

$     900.00

(Adjustment of Expiration of Prepaid insurance)

3

Depreciation Expense

$ 2,100.00

                  Accumulated Depreciation

$ 2,100.00

(Depreciation Property plant and equipment)

4

Salaries expense

$ 1,300.00

              Salaries payable

$ 1,300.00

(Incurred but did not paid salaries)

5

Unearned revenue

$     300.00

             Service Revenue

$     300.00

(Rendered services for cash collected in advance)

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