1 and 2

CHAPTER 5 The Accounting Cycle Completed MyAccountingLab Exercises Set A L01 (15 min) From the adjustments section of a worksheet (see Figure 5.21 . prepare adjusting journal entries for the end of December .1. FIGURE 5.21 Adjustments on Worksheet Adjustments Dr Cr Prepaid Rent Office Supplies Accumulated Depreciation, Equipment Salaries Payable A) 130000 7 500 Rent Expense Office Supplies Expense Depreciation Expense, Equipment Salaries Expense 5000 (C) 3 75 00ITI Totals 2725 00 SA-2. Complete the following table by placing an X in the correct column. L01,2 (10 min) Temporary Permanent Will Be Closed Ex. Accounts Receivable 1. Income Summary 2. Jan Ralls, Capital 3. Rent Expense 4. Jan Ralls, Withdrawals 5. Fees Earned 6. Accounts Payable 7. Cash 5A-3. From the following T accounts, journalize the four closing entries on (15 min) L02 October 31, 201X. Rent Expense 7,500 Wage Expense 8,100 J. Kirsch, Capital 14,000 3. Kirsch, Withdrawals 5,000 Insurance Expense