On December 31 adjusting entries for the following transactions. 1. Fees accrued
ID: 2416324 • Letter: O
Question
On December 31 adjusting entries for the following transactions. 1. Fees accrued but not billed, $6,300. 2. The Supplies account balance on December 31, $4,750; Supplies on hand, $960. 3. Wages accrued but not paid, $2,700. 4. Depreciation of office equipment, $1,650. 5. Rent expired during year, $10,800.
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General Journal
Prepare the December 31 adjusting entries for each transactions. Refer to the Chart of Accounts for exact wording of account titles.
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JOURNAL
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need help with a general journal
CHART OF ACCOUNTS General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Rent 16 Office Equipment 17 Accumulated Depreciation LIABILITIES 21 Accounts Payable 22 Notes Payable 23 Unearned Revenues 24 Wages Payable 25 Interest Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends REVENUE 41 Fees Earned EXPENSES 51 Advertising Expense 52 Insurance Expense 53 Interest Expense 54 Wages Expense 55 Supplies Expense 56 Utilities Expense 57 Depreciation Expense 58 Rent Expense 59 Miscellaneous ExpenseExplanation / Answer
December 31 adjusting entries for each transactions:
Date
Description
Post Ref
Debit
Credit
1
December 31st
Accounts Receivable
$6,300
Fees Earned
$6,300
2
December 31st
Supplies Expense
$3,790
($4,750-$960)
Supplies
$3,790
3
December 31st
Wages Expense
$2,700
Wages payable
$2,700
4
December 31st
Depreciation Expense
$1,650
Accumulated Depreciation
$1,650
5
December 31st
Rent Expense
$10,800
Prepaid Rent
$10,800
Date
Description
Post Ref
Debit
Credit
1
December 31st
Accounts Receivable
$6,300
Fees Earned
$6,300
2
December 31st
Supplies Expense
$3,790
($4,750-$960)
Supplies
$3,790
3
December 31st
Wages Expense
$2,700
Wages payable
$2,700
4
December 31st
Depreciation Expense
$1,650
Accumulated Depreciation
$1,650
5
December 31st
Rent Expense
$10,800
Prepaid Rent
$10,800
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