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Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate the adjusted balance and use a Bal. post reference

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Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate the adjusted balance and use a Bal. post reference to show the ending balance of each account. Depreciation for the current year includes Equipment, $3,700. The Accumulated Depreciation - Equipment unadjusted balance as of December 31 is $7,000. Adjustment Type: Depreciation Expense - Equipment Accumulated Depreciation - Equipment Used office supplies of $290. The Office Supplies unadjusted balance on December 31 is $9,800. Adjustment Type: Supplies Expense Office Supplies Incurred interest expense of $200. Adjustment Type: Interest Expense Interest Payable Journalize the adjusting entry needed at December 31 for each situation. Use the Chart of Accounts to review account names! Completed services that were paid for six months earlier, $1,300 Date Accounts and Explanation Debit Credit Used prepaid insurance of $3,200 Date Accounts and Explanation Debit Credit Account Number Account Title 101 105 110 112 115 120 125 130 1140 145 146 Cash Accounts Receivable Interest Receivable Notes Receivable Office Supplies Prepaid Insurance Prepaid Rent Short-term Investments Long-term Investments Building Accumulated Depreciation - Building Equipment Accumulated Depreciation - Equipment Furniture Accumulated Depreciation - Furniture Office Furniture Accumulated Depreciation - Office Furniture Truck 150 151 155 156 160 161 165 166 170 175 178 180 182 201 205 210 215 220 225 235 250 255 260 Accumulated Depreciation - Truck Land Copyright Franchise Patent Trademark Accounts Payable Rent Payable Salaries Payable Utilities Payable Interest Payable Dividends Payable Unearned Revenue Notes Payable Mortgages Payable Premium on Bonds Payable Common Stock Retained Earnings Dividends Income Summary Service Revenue Dividend Revenue Interest Revenue Advertising Expense 301 315 320 325 410 420 430 505 510 515 520 525 535 540 545 550 Delivery Expense Depreciation Expense Insurance Expense Interest Expense Repairs and Maintenance Expense Rent Expense Salaries Expense Supplies Expense Utilities Expense 555

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