Help Save & Exit Sub Exercise 3-5 Analyzing and preparing adjusting entries LO P1, P3 ng are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before any adjusting entries are recorded, and the right column includes the effects of adjusting entries. The company records cash receipts and paym ents related to unearned and prepaid items in balance sheet accounts. The middle column blank space for each income statement effect of the eight adjusting entries a through g the balance sheet part of the entries is not shown here). xis co. $24,000 42,500 $66,500 $30,600 42,500 73,100 Total revenues 2 1,650 1,925 15,195 1,430 4,500 528 3,000 1,327 b. rnicure 12,50 4,500 Rent expense Office supplies expense 3,000 1,250 Prev3 of 8 Next > html s co 31 $24,000 42,500 $66,500 $30,600 42,500 73,100 Total revenues Depreciation expense Computers Depreciation expense-office furniture 1,650 1,925 15,195 1,430 4,500 12,500 4,500 office supplies expense 3,000 1,250 21,250- 3,000 1,327 29,555 $43,545 $45,250 Analyze the statements.and prepare the eight adjusting entries a through g that likely were recorded. Note. Answer for a has two entries 30% of (i) the $6,600 adjustment for Fees Earned has been earned but not billed, and (ii) the other 70% has been earned by performing services that were paid for in advance.
Analyze the statements and prepare the eight adjusting entries at two entries 30% of (i) the $6,600 adjustme earned by performing services that were paid for in advance. ely were recorded. Notr Angower for o ban nt for Fees Earned has been earned but not billed, and (ii) the other 70% has been View transaction list Journal entry worksheet 2 3 5 Record the adjusting entry for accrued revenues. Debit Credit K Prev3 of Next> Journal entry worksheet 1 2 3 8 Record the adjusting entry for accrued revenues. Note: Enter debits before credits Transaction Ge a1. Clear entry k Prex3 of 8 ll1Next Journal entry worksheet 2 3 6 7 8 Record the adjusting entry related to fees collected in advance. General Journal Debit a2. Record entry Clear entry View general journal Journal entry worksheet 5 6 7 Record depreciation on computers. Note: Enter debits before credits. Transaction b. Clear entry View general journal Record entry 3 ot 8Next Journal entry worksheet 2 3 6 Record depreciation on office furniture. Note: Enter debits before credits. Trans on C. Clear entry Record entry Journal entry worksheet 2 2 3 4 6 6 7 8 Record the adjusting entry related to salaries. Note: Enter debits before credits. al Debit Credit d. Record entry Clear entry View general journal Next > Journal entry worksheet 2 6 7 8 Record the adjusting entry related to insurance. Note: Enter debits before credits. General Journal Record entry Clear entry View general journal Dournal entry worksheet 2 5 6 7 8 Record the adjusting entry related to utilities Tran 9. Record entry Clear entry
