Question
Selected general ledger accounts of Sands Company, Inc. are listed below with the identifying account numbers: 11 Cash 22 Unearned Service Fees 12 Accounts Receivable
Selected general ledger accounts of Sands Company, Inc. are listed below with the identifying account numbers:
11 | Cash |
| 22 | Unearned Service Fees |
12 | Accounts Receivable |
| 31 | Common Stock |
14 | Prepaid rent |
| 41 | Service Fees Earned |
15 | Equipment |
| 51 | Wages Expense |
16 | Accumulated Depreciation Building |
| 52 | Advertising Expense |
21 | Accounts Payable |
| 53 | Depreciation ExpenseBuilding |
23 Wages Payable 54 Office Supplies Expense
13. Supplies
For each of the following transactions or adjustments, indicate the proper accounts to be debited and credited by placing the appropriate account number in the space provided.
| Transaction or Adjustment | Debit |
| Credit | |||||
a. | Shareholders invested Cash in the business in exchange for stock |
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b. | Paid 6 month rent in advance. |
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c. | Collected payments on account from customers. |
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d. | Received payment in advance (for future services) from customers. |
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e. | Bill customers for services rendered. |
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f. | Made adjustment to record depreciation on Building. |
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g. | Made adjustment to record portion of prepaid Rent that had expired. |
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h. | Made adjustment to record portion of service fees received in advance that had been earned. |
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I. Made Adjustment to Record unpaid Wages. ______ ______
k. Made Adjustment to record portion of office supplies
used ______ ______
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