Question
Adjusting entries Selected ledger accounts used by Underwood Properties, Inc., are listed along with identifying numbers. Following this list of account numbers and titles is
Adjusting entries
Selected ledger accounts used by Underwood Properties, Inc., are listed along with identifying numbers. Following this list of account numbers and titles is a series of transactions. For each transaction, you are to indicate the proper accounts to be debited and credited.
NOTES: 4 - Unexpired Insurance is the same thing as Prepaid Insurance
6 - Should say Accumulated Depreciation (contra-asset) on Office Equipment
24 - Unearned Fees is the same thing as Deferred Revenue (Fees)
The worksheet above is presented for illustration only.
In the corresponding boxes below for each lettered transaction in the table above, indicate the number(s) of the accounts to be debited or credited. For entries with two debits or credits, put both numbers separated by a comma, or it will be counted as wrong:
(a) debit(s)__ __ (a)credit(s)__ __
(b)debit(s) __ __(b)credit(s)__ __
(c)debit(s)__ __(c)credit(s)__ __
(d)debit(s)__ __ (d)credit(s)__ __
(e)debit(s)__ __(e)credit(s)__ __
(f)debit(s) __ __(f)credit(s)__ __
(g) debit(s)__ __(g)credit(s)__ __
(h)debit(s) __ __(h)credit(s)__ __
(i)debit(s) __ __(i)credit(s)__ __
(j)debit(s) __ __(j)credit(s)__ __
(k)debit(s)__ __(k)credit(s)__ __
(l)debit(s) __ __(l)credit(s)__ __
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started