Record the adjusting entries for the month of December. Explanations are not req

Question

Record the adjusting entries for the month of December. Explanations are not required. Refer to the Chart of Accounts for account titles. Accrued Salaries Expense of $1,700 Date Accounts Debit Credit Depreciation in the amount of $200 was recorded on the furniture Date Accounts Debit Credit Prepaid Insurance for the month expired. Remember, a four month insurance policy of $1,400 was paid for on December 1 Date Accounts Debit Credit Office Supplies used during the month, $110 Date Accounts Debit Credit

Explanation / Answer

Journal entries are as prepared below:

Date Particulars L.F Amount ($) Amount ($) Dec-31 salaries Expense 1,700 Salaries payable 1,700 (for salaries expense accrued) Dec-31 Depreciation on furniture 200 Accumulated dep-Furniture 200 (for depreciation recorded) Dec-31 Insurance Expense (1,400/4) 350 Prepaid Insurance 350 (for 1 month insurance expired) Dec-31 Office Supplies Expense 110 Office Supplies 110 (For supplies used) Dec-31 Unearned Revenue 400 Service Revenue 400 (for service revenue earned) Dec-31 Account Receivable 900 Service Revenue 900 For service revenue accrued)

Related Questions

Navigate

• Browse (All)
• Browse R
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.