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A partial tabular summary for Pharoah Company on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared.
A partial tabular summary for Pharoah Company on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Assets Supplies + Prepaid Insurance + Equip. Bal. 3,510 2.250 25,500 Liabilities + Stockholders' Equity Acc. Depr.- Int. Unearn. Rent Com. Reatined Earnings Equip. - Pay. + Notes Pay. Rev. Stock + Rev. - Exp. - Div 7.650 0 18.800 10,750 An analysis of the accounts shows the following. 1. The equipment depreciates $300 per month. 2. Half of the unearned rent revenue was earned during the quarter, 3. Interest of $310 is accrued on the notes payable. 4. Sapplies on hand total 5930. 5. Insurance expires at the rate of $250 per month Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. (if a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Int. Acc. Depr. Equip Supplies + Equip. Pay. Prepaid Insurance 2,250 Bal. 3,510 25,500 -7,650 e Textbook and Media Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. Of a transaction results in a decrease in Assets, Llabilities or Stockholders' Equity place a negative sign (or parentheses) in front of the amount entered for the particular Asset Liability or Equity item that was reduced.) Liabilities Stockholders' Unearn. Rent Com Int. Pay. Rev. Stock Notes Pay. 18.800 10,750 Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. Of a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) In front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Com Stock Stockholders' Equity Retained Earnings Exp. Rev. Div
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