Question
Part Two Instructions Once all journal entries are recorded in the practice set, record the eight adjusting journal entries below and round to the nearest
Part Two Instructions
Once all journal entries are recorded in the practice set, record the eight adjusting journal entries below and round to the nearest cent if necessary.
The following are the adjusting journal entries for the month of January. Record all adjusting entries on January 31, 2020.
Record Adjusting Entries: Record the following month end adjusting entries for the month of January. Write the journal entries in the practice set after the original journal entries. Round all answers to the nearest cent.
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$70 of office supplies remained on hand.
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$200 of shipping supplies remained on hand.
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$1,300 of wages for the part-time help from Irenes Temp Services for January should be accrued. Do not worry about payroll taxes; Temp Services Inc. will handle these.
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Make the necessary adjusting entries for one months depreciation for the Computer Equipment using Straight Line Depreciation.
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Make the necessary adjusting entry for one months depreciation for the furniture and fixtures using Straight Line Depreciation.
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One month of the prepaid insurance has expired.
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One month of the prepaid rent has expired.
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Record the interest for the loan from Wells Fargo for one month.
Make sure you prepare the journal entries and the adjusting entries and write them in the practice set.
ACCOUNTING ACCOUNTING OCTETY OCTETY Transaction Dr Account Dollar Cr Account Dollar Date General Journal: See how to enter information in Example #1. Example #2 shows you how to enter a Sale and the COGS and Inventory amount. *Notice how the smaller account number is first when there is more than one debitor credit. Example #3 If No Journal Entry. All examples are in the instructions in the Blackboard Instructions on page 7. No. Amount No. Amount 1/2/20 1 DR NO JE Dr Account Dollar Cr Account Dollar 1/2/20 DR 10000 $70,000 CR 39003 $70,000 Date Transaction # No Amount No 1/2/2020 Example #1 Dr Amount $35,000 10000 $35,000.00 Cr 39003 11/8/20 3 DR 14000 $9.000 CR 10000 $9,000 1/2/2020 Example #2 Dr 11000 $ 10,500.00 Cr *23300 $ 500.00 1/3/20 14 DR 14100 $4,000 CR 110000 $4,000 Cr 40000 $10,000.00 Dr 50000 $5,000.00 Cr *12000 $2,500.00 1/3/20 IDR 15100 $5,200 $ CR 21200 $5,200 12100 $2,500.00 Example #3 NO JE 1/5/20 6 DR 10000 $10,000 CR 121100 $10.000 1/5/20 DR 13200 $1,100 CR 10000 $1,100 1/6/20 8 DR 15000 S14,600 CR 10000 $14,600 1/6/20 19 DR 15100 $750 CR 10000 $750 1/8/20 10 DR 13100 $450 CR 10000 $450 1/8/20 11 DR 12000 $8,000 CR 20000 $8,000 1/9/20 12 IDR 12100 $6.000 CR 20000 $6,000 11/13/10 113 IDR 60100 S940 CR 10000 $940 1/14/20 14 NO JE Preview File Edit View Go Tools Window Window Help Le 47% 0 Sun 10:08 AM Q = b Practice set (page 14 of 23) Edited y Q Search ACCOUNTING CCOUNTING SOCIETY Some OCIETY Transaction Dr Account Dollar Cr Account Dr Account Dollar Cr Account Dollar Date Dollar Amount Date Transaction # No. Amount No. No. Amount No Amount 1/14/20 15 DR 10000 $7,794 CR 23300 $594 1/27/20 124 DR 10000 $3,240 CR 23330 $240 CA $7.200 CR 40000 $3,000 10000 12000 PA 50000 84.100 CR $3.000 DR 50000 $2,000 CR 12000 $1,700 CR 12100 $1,100 CR 12100 $300 1/16/20 16 R 80450 $250 $ CR 10000 $250 1/27/20 25 DR 20000 $12,500 CR 10000 $12,410 ICR 12000 $90 1/16/20 17 PR 12000 $4,500 CR 20000 $4,500 1/30/20 26 IDR 50800 $235 CR 10000 $235 1/20/20 18 PR 10000 $8.985 CR 23300 $685 CA 40000 $8,300 1/30/20 127 DR 50550 $445 CR 20000 |$445 DA 50000 $4,500 CR 12000 $2,500 12100 $2,000 1/30/20 28 DR 21200 $866.67 S0700 $43.33 1/22/20 19 PA 50850 $200 CA 10000 $200 CR 10000 $910 1/23/20 20 NO JE 1/30/20 129 DR 10000 $3,248 CA 23330 $248 CR |40000 $3,000 $1.100 1/23/20 21 PA 60500 S800 CR 10000 $800 DR 150000 $1.500 CR 12000 12100 |$700 $ 1/26/20 122 PR 20000 S800 CR Sadd 1/31/20 30 DR 23330 $2510 ICR 10000 $2.510 1/26/20 23 DR 20000 $6,000 CR 10000 $6,000 1/31/20 31 DR 99007 $650 CA 10000 $650 ACCOUNTING ACCOUNTING OCTETY OCTETY Transaction Dr Account Dollar Cr Account Dollar Date General Journal: See how to enter information in Example #1. Example #2 shows you how to enter a Sale and the COGS and Inventory amount. *Notice how the smaller account number is first when there is more than one debitor credit. Example #3 If No Journal Entry. All examples are in the instructions in the Blackboard Instructions on page 7. No. Amount No. Amount 1/2/20 1 DR NO JE Dr Account Dollar Cr Account Dollar 1/2/20 DR 10000 $70,000 CR 39003 $70,000 Date Transaction # No Amount No 1/2/2020 Example #1 Dr Amount $35,000 10000 $35,000.00 Cr 39003 11/8/20 3 DR 14000 $9.000 CR 10000 $9,000 1/2/2020 Example #2 Dr 11000 $ 10,500.00 Cr *23300 $ 500.00 1/3/20 14 DR 14100 $4,000 CR 110000 $4,000 Cr 40000 $10,000.00 Dr 50000 $5,000.00 Cr *12000 $2,500.00 1/3/20 IDR 15100 $5,200 $ CR 21200 $5,200 12100 $2,500.00 Example #3 NO JE 1/5/20 6 DR 10000 $10,000 CR 121100 $10.000 1/5/20 DR 13200 $1,100 CR 10000 $1,100 1/6/20 8 DR 15000 S14,600 CR 10000 $14,600 1/6/20 19 DR 15100 $750 CR 10000 $750 1/8/20 10 DR 13100 $450 CR 10000 $450 1/8/20 11 DR 12000 $8,000 CR 20000 $8,000 1/9/20 12 IDR 12100 $6.000 CR 20000 $6,000 11/13/10 113 IDR 60100 S940 CR 10000 $940 1/14/20 14 NO JE Preview File Edit View Go Tools Window Window Help Le 47% 0 Sun 10:08 AM Q = b Practice set (page 14 of 23) Edited y Q Search ACCOUNTING CCOUNTING SOCIETY Some OCIETY Transaction Dr Account Dollar Cr Account Dr Account Dollar Cr Account Dollar Date Dollar Amount Date Transaction # No. Amount No. No. Amount No Amount 1/14/20 15 DR 10000 $7,794 CR 23300 $594 1/27/20 124 DR 10000 $3,240 CR 23330 $240 CA $7.200 CR 40000 $3,000 10000 12000 PA 50000 84.100 CR $3.000 DR 50000 $2,000 CR 12000 $1,700 CR 12100 $1,100 CR 12100 $300 1/16/20 16 R 80450 $250 $ CR 10000 $250 1/27/20 25 DR 20000 $12,500 CR 10000 $12,410 ICR 12000 $90 1/16/20 17 PR 12000 $4,500 CR 20000 $4,500 1/30/20 26 IDR 50800 $235 CR 10000 $235 1/20/20 18 PR 10000 $8.985 CR 23300 $685 CA 40000 $8,300 1/30/20 127 DR 50550 $445 CR 20000 |$445 DA 50000 $4,500 CR 12000 $2,500 12100 $2,000 1/30/20 28 DR 21200 $866.67 S0700 $43.33 1/22/20 19 PA 50850 $200 CA 10000 $200 CR 10000 $910 1/23/20 20 NO JE 1/30/20 129 DR 10000 $3,248 CA 23330 $248 CR |40000 $3,000 $1.100 1/23/20 21 PA 60500 S800 CR 10000 $800 DR 150000 $1.500 CR 12000 12100 |$700 $ 1/26/20 122 PR 20000 S800 CR Sadd 1/31/20 30 DR 23330 $2510 ICR 10000 $2.510 1/26/20 23 DR 20000 $6,000 CR 10000 $6,000 1/31/20 31 DR 99007 $650 CA 10000 $650Step by Step Solution
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Intermediate Accounting Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
13th Canadian Edition
1119740444, 9781119740445
