Accounting Principles I $(ACC111)$

Adjusting Entries $(Chapter3)$

Homework Proble

Homework Problems

Problem $3-$ A

Adjusting Entries

Macaroni and Cheese Company

Unadjusted Trial Balance

October $31,202$X

$\backslash$table$[[$Cash$,,$Debits,,Credits$],[$Accounts Receivable,$$,6,600,,],[$Supplies$,,10,000,,],[$Equipment$,,1,400,,],[$Accumulated Depreciation $-$ Equip,,$30,000,,],[$Accounts Payable,,,$$,6,000],[$Unearned Fees,,,,$800],[$Common Stock,,,,$6,000],[$Retained Earnings,,,,$25,000],[$Dividends$,,,,9,000],[$Fees Earned,,$2,000,,],[$Salaries Expense,,,,$42,200],[$Rent Expense,,$29,000,,],[$Totals$,$$$,\backslash$table$[[10,000],[89,000]],$$$,89000]]$

Prepare journal entries for the following adjustments on October $31$ of the current year.

a$)$ Salaries earned by employees, but unpaid on Monday, October $31,$ total $$1,000.$

b$)$ Depreciation on the equipment, for the year, is estimated at $$3,000.$

c$)$ Blue Violet billed its customers $$1,500$ for services provided during the month of October. At October $31,$ an entry is needed to record this.

d$)$ On October $31,$$$300$ of supplies are on hand.

e$)$ The Unearned Fees account reflects cash received, on October $1,$ in advance of providing three month's services. At October $31,$ one month of those services has been provided.