Swifty Company has the following balances in selected accounts on December 3 1 , 2 0 2
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Question:
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Swifty Company has the following balances in selected accounts on December Prepare adjusting entries for the seven items described 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 for the amounts. List all debit
entries before credit entries.
No Account Titles and Explanation
Debit
Credit
Interest Expense
Interest Payable
Supplies Expense
Depreciation Expense
Accumulated DepreciationEquipment
Insurance Expense
Prepaid Insurance
Unearned Service Revenue
Service Revenue
L
Accounts Receivable
Service Revenue
Salaries and Wages Expense
Salaries and Wages Payable
All the accounts have normal balances. The information below has been gathered at December
Swifty Company borrowed $ by signing a oneyear note on August
A count of supplies on December indicates that supplies of $ are on hand
Depreciation on the equipment for is $
Swifty Company paid $ for months of insurance coverage on May
On November Swifty collected $ for consulting services to be performed from November through
March
Swifty performed consulting services for a client in December The client will be billed $
Swifty Company pays its employees total salaries of $ every Monday for the preceding day week Monday through
Friday On Monday, December employees were paid for the week ending December All employees worked the last
days of
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