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please help with the $ change and the equation on the far right of the second picture. Thank you! Credit Debit $3,870 3,780 25,800 Supplies
please help with the $ change and the equation on the far right of the second picture. Thank you!
Credit Debit $3,870 3,780 25,800 Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $7,740 21,600 10,650 60,500 0 12,100 An analysis of the accounts shows the following: 1. The equipment depreciates $360 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $470 is accrued on the notes payable. 4. Supplies on hand total $940. 5. Insurance expires at the rate of $420 per month. Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. 1 Depreciation Expense 7,380 Accumulated Depreciation 7,380 What is the effect on Assets, Liabilities, & SHE? $ Change Increase/Decrease Assets Decrease Liabilities Decrease Revenues --> SHE Increase Expenses --> SHE Decrease 2 5,325 Unearned Rent Rent Revenue 5,325 3 470 A L + SHE Interest Expense Interest Payable 470 4 2,930 Supplies Expense Supplies 2,930 Supplies 3,870 3/31/2021 2,930 3/31/2021 940 5 1,260 Insurance Expense Prepaid Insurance 1,260Step by Step Solution
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