Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A Accounts Receivable B Accumulated Depreciation C Cash D Depreciation ExpenseCL E Equipment F Interest Expense G Interest Payable H Interest Revenue I Note Payable

image text in transcribed
A Accounts Receivable B Accumulated Depreciation C Cash D Depreciation ExpenseCL E Equipment F Interest Expense G Interest Payable H Interest Revenue I Note Payable (ong-term) JlRetained Earnings K Salaries and Wage Expense L Salaries and Wages Payable M Service Revenue N Supplies O Supplies Expense P Unearned Revenue Required: For each of the following independent situations, give the journal entry by selecting/entering the appropriate code(s) and amount(s). We've done the first one for you as an example. Debit Independent Situations Code Amount Code $ 400 a. Accrued wages, unrecorded and unpaid at year-end, $400 b. Service revenue collected in advance, $600. c. At year-end, interest on note payable not yet recorded or paid, $220. d. Depreciation expense for year, $1,000. e. Service revenue earned but not yet collected at year-end, $1,000. f. Balance in Supplies account, $400; supplies on hand at year-end, $150 g. Adjusted balance at year-end in Service Revenue account, $75,000 S 400 L

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction To Managerial Accounting

Authors: Peter Brewer, Ray Garrison, Eric Noreen

3rd Edition

0073048836, 9780073048833

Students also viewed these Accounting questions