PROBLEM 6:

Original Entry Should Be Entry Adjusting Entry

Account Name Debit Credit Account Name Debit Credit Account Name Debit Credit
Equipment 9,000 Purchase Discount 9,000
9,000 No entry needed
Purchase Equipment 9,000
Discount

Factory overhead 876 Factory overhead 825 Equipment 50 700

000 Equipment 300
Cost of goods 876 000 50 700 Factory overhead 50 700
sold Cost of goods 876
sold 000

Cash 5 000 Cash 5,000 Miscellaneous 5,000

revenue 5,000
Miscellaneous 5 000 Equipment 5,000 Equipment
revenue
PROBLEM 8:

Original Entry Should Be Entry Adjusting Entry

Account Name Debit Credit Account Name Debit Credit Account Name Debit Credit
Demolition Costs 60,000 Cash 36,000 Miscellaneous 36,000
60,00 Income 36,000
Accumulated 0 Miscellaneous 36,000
Depreciation Income Cash

Cash 36, 000

36, 000
Miscellaneous
Income