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Ellis Company uses the following accounts and numbers. 11 Cash 19 Accumulated Depreciation 26 Interest Payable 54 Rent Expense 12 Accounts Receivable 22 Notes Payable
Ellis Company uses the following accounts and numbers. 11 Cash 19 Accumulated Depreciation 26 Interest Payable 54 Rent Expense 12 Accounts Receivable 22 Notes Payable 33 Common Stock 55 Depreciation Expense 13 Supplies 23 Uneared Service Revenue 41 Service Revenue 56 Interest Expense 14 Prepaid Rent 24 Salaries Payable S1 Salaries Expense 57 Utilities Expense 18 Fquipment 25 Utilities Payable 5.3 Insurance Expense 58 Supplies Expense The company accumulated the following adjustment data st December 31 7. Elis owes $21,000 on a 8%, 3 month, note payable. Els secret interest monthly 8. Equipment depreciates 56,000 per year. Depreciation is adjusted monthly Instructions: For each of the above items indicate 1. The type of adjustment (peepaid expense, depreciation, unearned remue, accrued revenue, or crud expense) 2. Use the account numbers from above to indicate which accounts should be debited and credited. Also, enter the appropriate collar amount of the adjustment in the corresponding debit/credit Adjusting Entry Acct. # Debit Credit Type of Adjustment 7. 8
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