000 i na 55. Selected accounts of Farm Company are shown below as of January 31 of the current year, before any adjusting entries have been made. Farm Company's accounting year begins on January 1 Debit Credit Prepaid rent $12,600 Supplies Office equipment 9,900 25,200 Unearned service fees $18,000 Wages expense 24,000 Use the following information to prepare the necessary January 31 adjusting entries: (6) Prepaid rent represents rent for January, February, March, and April. (7) January 31 supplies on hand total $3,900. (8) Office equipment is expected to last 12 years. (9) Last month the firm received $18,000 of service fees in advance. One-half of these fees were earned during January. (10)Accrued wages not recorded at January 31 are $2,850.
000 i na 55. Selected accounts of Farm Company are shown below as of January 31 of the current year, before any adjusting entries have been made. Farm Company's accounting year begins on January 1 Debit Credit Prepaid rent $12,600 Supplies Office equipment 9,900 25,200 Unearned service fees $18,000 Wages expense 24,000 Use the following information to prepare the necessary January 31 adjusting entries: (6) Prepaid rent represents rent for January, February, March, and April. (7) January 31 supplies on hand total $3,900. (8) Office equipment is expected to last 12 years. (9) Last month the firm received $18,000 of service fees in advance. One-half of these fees were earned during January. (10)Accrued wages not recorded at January 31 are $2,850.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:000
i na
55. Selected accounts of Farm Company are shown below as of January 31 of the current year, before any
adjusting entries have been made. Farm Company's accounting year begins on January 1
Debit
Credit
Prepaid rent
$12,600
Supplies
Office equipment
9,900
25,200
Unearned service fees
$18,000
Wages expense
24,000
Use the following information to prepare the necessary January 31 adjusting entries:
(6) Prepaid rent represents rent for January, February, March, and April.
(7) January 31 supplies on hand total $3,900.
(8) Office equipment is expected to last 12 years.
(9) Last month the firm received $18,000 of service fees in advance. One-half of these fees were
earned during January.
(10)Accrued wages not recorded at January 31 are $2,850.
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