Problem 4-13A

Carla Vista Company has a September 30 fiscal year end and prepares adjusting entries on an annual basis. The trial balance included the following selected accounts:

Accumulated depreciation

$4,650

Depreciation expense

0

Interest expense

3,400

Interest payable

0

Interest receivable

0

Interest revenue

0

Salaries expense

155,000

Salaries payable

0

Additional information for its September 30, 2021, year-end adjustments:

1.

Carla Vista has a two-year, 3.5% note receivable for $4,800 that was issued on April 1, 2021. Interest is payable every six months, on October 1 and April 1. Principal is payable at maturity. Carla Vista collected the correct amount on October 1, 2021.

2.

Accrued salaries as at September 30, 2021, were $2,300. Payroll totalling $2,830 was paid on October 2, 2021.

3.

Carla Vista has a five-year, 5% note payable for $81,600 issued in 2019. Interest is payable quarterly on January 31, April 30, July 31, and October 31 each year. Carla Vista paid the correct amounts in 2021.4.

Depreciation expense for the year ended September 30, 2021, was $4,650.

Prepare T accounts and record the September 30, 2021, balances.

Salaries Expense

Sept. 30 Bal.

Sept. 30 Bal.

Interest Expense

Sept. 30 Bal.

Sept. 30 Bal.

Accumulated Depreciation

Sept. 30 Bal.

Sept. 30 Bal.

SHOW LIST OF ACCOUNTS

LINK TO TEXT

Prepare aadjusting journal entries for items 1 to 4 above.(Credit account titles are automatically indented when the amount is entered.Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.)

Date

Account Titles and Explanation

Debit

Credit

Sept. 30

(To record accrued interest)Sept. 30

(To record accrued salaries)Sept. 30

(To record accrued interest)Sept. 30

(To record depreciation)

Post adjusting journal entries for items 1 to 4 above.(Post entries in the order of journal entries presented above. Round answers to 0 decimal places, e.g. 5,275.)

Interest Receivable

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Interest Revenue

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Salaries Payable

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Salaries Expense

Sept. 30 Bal.155,000

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Interest Payable

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Interest Expense

Sept. 30 Bal.3,400

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Accumulated Depreciation

Sept. 30 Bal.4,650

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Depreciation Expense

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.

Bal.

Sept. 30

Sept. 30 Bal.