15. The accounting records of Kendle’s Premier Services include the following un

Question

15. The accounting records of Kendle’s Premier Services include the following unadjusted balances on June 30: Accounts Receivable, $4,100; Office Supplies, $1,500; Prepaid Rent, $6,000; Equipment, $15,000; Accumulated Depreciation - Equipment, $1,800; Unearned Revenue, $2,000; Office Supplies Expense, $2,800; Salaries Expense, $15,000; Service Revenue, $40,500. (Space here is for T-accounts.) The following are the month-end adjusting entries you need to do, as Kendle’s accountant: a. Unearned Revenue has now been earned in the amount of $275 b. Office Supplies on hand are approximately $750 c. Salaries owed to employees are $1,800 d. One month of prepaid rent expired in the amount of $1,000 e. Depreciation on equipment, which is depreciated with the straight-line method, has $2,000 residual value, and a useful life of 15 years, needs to be calculated. Journalize the adjusting entries for the month of June for Kendle’s Premier Services. Round to nearest dollar. Date Accounts Debit Credit a June 30 b June 30 c June 30 d June 30 e June 30

please help thank you so much this was also a boxed chart that didnt transfer

Explanation / Answer

Journalize the adjusting entries for the month of June for Kendle’s Premier Services.

Date accounts Debit credit June 30 unearned revenue 275     Service revenue 275 June 30 Office Supplies expense 750     Office supplies 750 June 30 Salary expense 1800     Salary payable 18000 June 30 Rent expense 1000     Prepaid Rent 1000 June 30 Depreciation expense (15000-2000/15)/12 72      Accumlated depreciation 72

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