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The Righter Shoe Store Company prepares monthly financial statements for its bank. The November 30 and December 31, 2021, trial balances contained the following account
The Righter Shoe Store Company prepares monthly financial statements for its bank. The November 30 and December 31, 2021, trial balances contained the following account information: Supplies Prepaid insurance Salaries payable Book Deferred rent revenue Hint Print The following information also is known: rences Nov. 30 Dr. 1,500 Cr. Dec. 31 Dr. Cr. 3,000 6,000 4,500 10,000 2,000 15,000 1,000 a. The December income statement reported $2,000 in supplies expense. b. No insurance payments were made in December c. $10,000 was paid to employees during December for salaries. d. On November 1, 2021, a tenant paid Richter $3,000 in advance rent for the period November through January. Deferred rent revenue was credited. Required: 1. Using the above information for December, complete the T-accounts below. The beginning balances should be the balances as of November 30. 2. Using the above information, prepare the adjusting entries Righter recorded for the month of December ces Journal entry worksheet < 2 3 Record the adjusting entry at the end of December for prepaid insurance. Note: Enter debits before credits. Date General Journal Debit Credit 1,500 Dec 31, 2021 Insurance expense Journal entry worksheet < 3 Record the adjusting entry at the end of December for accrued salaries. Note: Enter debits before credits. Date Dec 31, 2021 General Journal Debit Credit 15,000 Record entry Clear entry View general journal bk ces Journal entry worksheet 2 Record the adjusting entry at the end of December for deferred rent. Note: Enter debits before credits. Date General Journal Debit Credit 1,000 Dec 31, 2021 Deferred rent revenue
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