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  • ACCOUNTING

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    Marie Ical
    4 views2 pages
    The document contains a series of journal entries recording various financial transactions over multiple dates. These include recognizing interest expense and payable, insurance expense and prepaid insurance, salaries expense and payable, interest receivable, unearned revenue, accounts receivable, supplies expense and inventory, and various asset, liability and equity accounts. It also lists adjusting entries on March 31st for depreciation, unearned rent, interest expense, supplies expense, and insurance expense.

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    The document contains a series of journal entries recording various financial transactions over multiple dates. These include recognizing interest expense and payable, insurance expense and prepaid insurance, salaries expense and payable, interest receivable, unearned revenue, accounts receivable, supplies expense and inventory, and various asset, liability and equity accounts. It also lists adjusting entries on March 31st for depreciation, unearned rent, interest expense, supplies expense, and insurance expense.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    4 views2 pages

    ACCOUNTING

    Uploaded by

    Marie Ical
    The document contains a series of journal entries recording various financial transactions over multiple dates. These include recognizing interest expense and payable, insurance expense and prepaid insurance, salaries expense and payable, interest receivable, unearned revenue, accounts receivable, supplies expense and inventory, and various asset, liability and equity accounts. It also lists adjusting entries on March 31st for depreciation, unearned rent, interest expense, supplies expense, and insurance expense.

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    © All Rights Reserved
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    of 2

    ICAL,MARIE M.

    1-D4

    PROBLEM 1:
    DATE ACCOUNT TITLE DEBIT CREDIT
    DECEMBER 31 INTEREST EXPENSE 4,000.00
    INTEREST PAYABLE 4,000.00

    PROBLEM 2:
    DATE ACCOUNT TITLE DEBIT CREDIT
    MARCH 31 INSURANCE EXPENSE 4,5000.00
    PREPAID INSURANCE 4,500.00
    PROBLEM 3:
    DATE ACCOUNT TITLE DEBIT CREDIT
    JUNE 30 SALARY AND WAGES 800.00
    SALARIES PAYABLE 800.00
    PROBLEM 4:
    DATE ACCOUNT TITLE DEBIT CREDIT
    DECEMBER 31 INTEREST RECEIVABLE 1,700.00
    INTEREST 1,700.00
    PROBLEM 5:
    DATE ACCOUNT TITLE DEBIT CREDIT
    JULY 3 CASH 5,000.00
    UNEARNED REVENUE 5,000.00

    JULY 31 UNEARNED REVENUE 1,200.00


    EARNED REVENUE 1,200.00
    PROBLEM 6:
    DATE ACCOUNT TITLE DEBIT CREDIT
    NOVEMBER 31 ACCOUNTS RECEIVABALE 11,000.00
    SERVICES 11,000.00
    PROBLEM 7:
    DATE ACCOUNT TITLE DEBIT CREDIT
    DECEMBER 31 SUPPLIES EXPENSE 460.00
    SUPPLIES ON HAND 460.00
    PROBLEM 8:
    ACCOUNT TITLE DEBIT CREDIT
    PREPAID INSURANCE 3,600.00
    SUPPLIES 2,800.00
    EQUIPMENT 25,000.00
    ACCUMULATED DEP.-EQUIPMENT 8,400.00
    NOTES PAYABLE 20,000.00
    UNEARNED RENT 9,900.00
    RENT REVENEU 60,000.00
    INTEREST EXPENSE -
    WAGE EXPENSE 14,000,00
    DATE ADJUSTING ENTRIES
    31-MARCH A. DEPRECIATION EXP. 600.00
    ACCUMULATED DEP.- EQUIPMENT 600.00
    B. UNEARNED RENT 4,950.00
    RENT REVENUE 4,950.00
    C. INTEREST EXPENSE 500.00
    INTEREST PAYABLE 500.00
    D. SUPPLIES EXPENSE 3,500.00
    SUPPLIES ON HAND 3,500.00
    E. INSURANCE EXPENSE 300.00
    PREPAID INSURANCE 300.00

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