Question
LO 3.3) Prob.2. At December 31, 2021, Beerbo has the following accounts and balances appearing in its ledger: Account Balance ($) Accounts payable....................................................................... 380 Accounts
LO 3.3) Prob.2. At December 31, 2021, Beerbo has the following accounts and balances appearing in its ledger:
Account Balance ($)
Accounts payable....................................................................... 380
Accounts receivable................................................................... 370
Accumulated depreciationbuilding........................................ 130
Accumulated depreciationfurniture and fixtures..................... 40
Building...................................................................................... 250
Cash........................................................................................... 198
Common stock........................................................................... 100
Depreciation expensebuilding.................................................... 0
Depreciation expensefurniture and fixtures.............................. 0
Dividends..................................................................................... 65
Furniture and fixtures................................................................ 100
Income tax expense....................................................................... 0
Income tax payable........................................................................ 0
Miscellaneous expense................................................................ 13
Retained earnings...................................................................... 193
Salaries expense......................................................................... 172
Salaries payable............................................................................. 0
Service revenue......................................................................... 286
Supplies expense............................................................................ 0
Supplies.......................................................................................... 6
Unearned service revenue........................................................... 45
LO 3.3) Prob.2.b. Upon examination of the account balances above, Beerbo determined that certain accounts must be adjusted prior to producing the financial statements. Use the information below to input the necessary adjusting journal entry (AJE).
Depreciation on building totaled $10.
DR. ... $ find this CR. ...$ find this
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started