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The following accounts are used by Britt's Knits Inc. table [ [ Code , Accounts,Code,Accounts ] , [ A , Cash,J , Contributed capital
The following accounts are used by Britt's Knits Inc.
tableCodeAccounts,Code,AccountsACash,JContributed capitalBOffice supplies,KRetained earningsCAccounts receivable,LService revenueDOffice equipment,MInterest revenueEAccumulated depreciation,NWage expenseFNote payable,Depreciation expenseGWages payable,PInterest expenseHInterest payable,QSupplies expenseIDeferred service revenue,RNone of the above
Required:
For each of the following nine independent situations, give the journal entry by selecting the appropriate codes from the dropdown menu and enter the amounts The first transaction is used as an example.
tableIndependent Situations,Debit,CreditCode,Amount,Code,AmountaAccrued wages, unrecorded and unpaid at yearend, $GbService revenue earned but not yet collected at yearend, $cDividends declared and paid during the year, $dOffice supplies on hand during the year, $; supplies on hand at yearend, $eService revenue collected in advance and not yet earned, $fDepreciation expense for the year, $gAt yearend, interest on note payable not yet recorded or paid, $hBalance at yearend in Service Revenue account, $ Give the closing entry at yearend.,,,,iBalance at yearend in Interest Expense account, $ Give the closing entry at yearend.,,,,
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