Question 1

Journalize the adjusting entries for the following adjustments at January 31, end of the accounting period.a. Employee salaries owed for Monday through Thursday of a five-day workweek; weekly payroll, $10,000.b. Uneraned service revenue earned, $500.c. Depreciation, $3,000.d. Prepaid rent expired, $300.e. Interest revenue accrued, $3,800.DateAccounts and explanationsDebitCreditJan.31 abcde

Question 2Just the Ticket, Inc. adjusts it accounts at the end of each month.Following information is given for the adjusting entries required at March 31:a.Depreciation of the furniture is based on estimated useful life of four years.The furniture was purchased several years ago at a cost of $24,000.b.The company pays employees each Friday. The daily payroll is $1,000. March 31 falls on a Monday.c.On March 1, the company renewed its rental agreement paying $4,000 cash foreight months' rent in advance.d.On February 1, $6,000 was collected in advance for six months from a group of customersand the amount was credited to unearned revenue account.e.Invoices representing $8,000 of services performed during the month have not beenrecorded as of March 31.f.Purchased supplies on account, $900. 2/3 of the supplies were estimated to beused in the month March.

Required:

Prepare necessary adjusting entries as of March 31

adjusting entriesdateaccount title

dr. cr

march 31 a

march 31 b

march 31 c

march 31 d

march 31 e

march 31 f