The account balances appearing on the trial balance (below) were taken from the

Question

The account balances appearing on the trial balance (below) were taken from the general ledger of Flip's Copy Shop at September 30, 2012. Additional information for the month of September which has not yet been recorded in the accounts is as follows: (a) A physical count of supplies indicates $300 on hand at September 30. (b) The amount of insurance that expired in the month of September was $200. (c) Depreciation on equipment for September was $400. (d) Rent owed on the copy shop for the month of September was $600 but will not be paid until October. Flip

Explanation / Answer

DR Supplies expense 800 (1,100-300) CR Supplies 800 DR Insurance expense 200 CR Prepaid insurance 200 DR Depreciation expense 400 CR Accumulated depreciation 400 DR Rent expense 600 CR Accounts payable 600

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