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Desoto Company must make three adjusting entries on December 31, 2019. a. Supplies used, $10,100 (supplies totaling $16,200 were purchased on December 1, 2019, and
Desoto Company must make three adjusting entries on December 31, 2019. a. Supplies used, $10,100 (supplies totaling $16,200 were purchased on December 1, 2019, and debited to the Supplies account). b. Expired insurance, $7,300; on December 1, 2019, the firm paid $43,800 for six months' insurance coverage in advance and debited Prepaid Insurance for this amount. c. Depreciation expense for equipment, $4,900 Required: Prepare the journal entries for these adjustments and post the entries to the general ledger accounts Complete this question by entering your answers in the tabs below General JournalLedger Prepare the journal entries for the above adjustments General Journal Ledger Prepare the journal entries for the above adjustments View transaction list Journal entry worksheet 2 Prepare the adjusting entry for supplies. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2019 Record entry Clear entry View general journal General Journal Ledger> View transaction list Journal entry worksheet 2 3 Prepare the adjusting entry for insurance. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2019 Record entry Clear entry View general journal Journal entry worksheet Prepare the adjusting entry for depreciation. Note: Enter debits before credits Date General Journal Debit Credit Dec 31, 2019 Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. General Ledger Journal Post the entries to the general ledger accounts Prepaid Insuran Supplies Account No. 121 Account No. 131 ce Date Debit Date Debit Credit Balance Credit Balance Dec 1, 2019 Dec 01, 2019 Dec 31, 2019 Dec 31, 2019 Depreciation Expense- Equipment Accumulated Depreciation- Equipment Account No. 142 Account No. 517 Debit Date Date Debit Credit Balance Credit Balance Dec 31, 2019 Dec 31, 2019 Insurance Expense Account No. 521 Supplies Expense Account No. 523 Debit Date Date Debit Credit Balance Credit Balance Dec 31, 2019 Dec 31, 2019 General Journal Ledger
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