Adjusting Entry information for December 31:

A. Prepaid Insurance which has expired $450.

B. Ending Balance of Cleaning Supplies Inventory is $1,750.

C. Service Revenue earned but not yet received is $3,100.

D. Depreciation on the Office Equipment for this year, $350.

E. Wages accrued but not yet paid, $2,800.

(c) Journalize the adjusting entries using the worksheet as a basis.

Debit

Credit

A.

Insurance Expense

450

Perpaid insurance

450

B.

Supplie Expence

1,750

Supplies

1,750

C.

Accounts Recivable

3,100

Unearn Revenue

3,100

D.

Depreciarion Expence- Office Euquipment

350

Accum. Depr. - Office Euquipment

350

E.

Wage Expense

2,800

Wage Payable

2,800

(d) Journalize the closing entries using the worksheet as a basis.

Debit

Credit

A.

wages payable

2,800

account payable

2,800

Debit

Credit

B.

Income Summary

41,350

Wage Expense

30,000

Rent Expence

4,700

Utility Expense

4,100

Supply Expense

1,750

Insurance Expence

450

Accum. Depr. - Office Euquipment

350

to close expenses

Debit

Credit

C.

Unearned Revenue

3,100

account payable

3,100

Debit

Credit

D.

Jackson, Capital

7,500

Jackson, Drawing

7,500