.Question 1 The ledger of Swifty Corporation on March 31, 2019, incdludes the fo

Question

.Question 1 The ledger of Swifty Corporation on March 31, 2019, incdludes the following selected accounts before adjusting entries Debit Credit Prepaid Insurance Supplies Equipment Uneamed Service Revenue 2,500 3,100 30,000 9,500 An analysis of the accounts shows the folowing 1. Insurance expires at the rate of $200 per month 2. Supplies on hand total $1,100. 3. The equipment depreciates $300 per month. 4. During March, services were perfomed for two-ffths of the uneamed service revenue. Prepare the adjusting entries for the month of March. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1. Mac 31 2. Mat 31 3. Mat 31 4. Mat 31

Explanation / Answer

JOURNAL ENTRIES S.NO. ACCOUNTS TITLE AND EXPLANATIONS DEBIT $ CREDIT $ 1 Insurance Expense Dr. 200      Prepaid insurancce 200 2 Supplies expense Dr. 2000      Supplies Account 2000 3 Depreciation expense Dr. 300      Accumulated Depreciation 300 4 Unearned Service revenue Dr. 3800       Service revenue 3800

Related Questions

Navigate

• Browse (All)
• Browse #
• Subjects

---

---

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