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Just provide the answers ASAP (within 10 minutes) no need for solutions & explanation for now. Problem #3 [10 marks] 10.0 points possible graded results
Just provide the answers ASAP (within 10 minutes) no need for solutions & explanation for now.
Problem #3 [10 marks] 10.0 points possible graded results hidden) Taslima Hasan is operating her own clinic business,TH Chamber. The trial balance for TH Chamber at January 31, 2021 is shown below. The company prepares monthly financial statements. Account Titles Debit ($) Credit (5) Cash... 12360 Accounts Receivable 2200 Supplies 2600 Prepaid Insurance 2900 Equipment. 6000 Furniture... 7000 Accounts Payable 4000 Unearned Service Revenue 3000 Owner's Capital 20000 Service Revenue. 7300 Salaries Expense 7600 Utilities Expense 140 Loan 6500 Total 40800 40800 instructions: Prepare the adjusting entries of the followings for the month of January, 2021. Adjustment 1 1. Uneared service revenue of $2200 was earned in January, 2021. Account to be debited is Account to be credited is Amount is 5 Adjustment 2 2. Rent expense incurred but not paid on January 31, 2021 totalled $2430. Account to be debited is Account to be credited is Amount is s Adjustment 3. 3. TH Chamber has separate insurance policies on its equipment and its furniture. Policy A on the equipment which was purchased on June 1, 2020 for $2592 has a term of 2 years. Policy B on the furniture, which was purchased on January 1, 2021 for 51200 has a term of 2 years. Account to be debited is Account to be credited is Amount is $ Adjustment 4 4. A count on January 31, 2021 shows $550 of supplies on hand. Account to be debited is Account to be credited is Amount is s Adjustment 5 5. Annual depreciation on equipment is $564. The equipment was purchased on January 1, 2020. Account to be debited is Account to be credited is Amount is sStep by Step Solution
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