Parrish Ch. 4 Pg. 99 4-3 (11/25/19)Pleae enter the correct adjusting entries in the journal provided. All entries are at the end of the accounting period. If no entry is necessary write "NONE"a) Depreciation expense for the month on the building is $2000b) A count of the Supplies account indicates that supplies of $450 have been usedc) Two months have passed since the insurance for the year was paid. The amount of the check was $1200d) Employees have earned $400 since the last payday of the monthe) Advertising in the local paper was paid this month in the amount of $500. The amount was debited to Prepaid Advertising and the advertisement is to run next monthf) Joe Moreland paid us $500 in advance for work to be done on his residence. The entry to record the collection of this cash included a credit to Labor Revenue. The work is halfway complete at the end of this month 4-3Adjusting entries.Enter the correct adjusting entries in the iournal provided. All entries are at the end of theaccounting period. If no entry is needed, write "NONE." (Sure, go ahead and use allcapitals if you want.)Depreciationа.for the month on the building is $2,000.expenseb.A count of the Supplies account indicates that supplies of $450 have been used.Two months have passed since insurance for the year was paid. The amount ofthe check was $1,200. The entry at time ofс.payment debited the PrepaidInsurance account.d.Employees have earned $400 since the last pay day of the month.Advertising in the local paper was paid this month in the amount of $500. Theamount was debited to Prepaid Advertising, and the advertisement is to run nextmonth.е.f.Joe Moreland paid us $500 in advance for work to be done on his residence. Theentry to record the collection of this cash included a credit to Labor Revenue. Thework is halfway complete at the end of this month.General JournalDatePostDescriptionRef.DebitCredit99

Adjusting entries are the journal entries passed at the end of the financial year to close all the…

Answered: 4-3 Adjusting entries. Enter the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Parrish Ch. 4 Pg. 99 4-3 (11/25/19)

Pleae enter the correct adjusting entries in the journal provided. All entries are at the end of the accounting period. If no entry is necessary write "NONE"

a) Depreciation expense for the month on the building is $2000

b) A count of the Supplies account indicates that supplies of $450 have been used

c) Two months have passed since the insurance for the year was paid. The amount of the check was $1200

d) Employees have earned $400 since the last payday of the month

e) Advertising in the local paper was paid this month in the amount of $500. The amount was debited to Prepaid Advertising and the advertisement is to run next month

f) Joe Moreland paid us $500 in advance for work to be done on his residence. The entry to record the collection of this cash included a credit to Labor Revenue. The work is halfway complete at the end of this month

4-3
Adjusting entries.
Enter the correct adjusting entries in the iournal provided. All entries are at the end of the
accounting period. If no entry is needed, write "NONE." (Sure, go ahead and use all
capitals if you want.)
Depreciation
а.
for the month on the building is $2,000.
expense
b.
A count of the Supplies account indicates that supplies of $450 have been used.
Two months have passed since insurance for the year was paid. The amount of
the check was $1,200. The entry at time of
с.
payment debited the Prepaid
Insurance account.
d.
Employees have earned $400 since the last pay day of the month.
Advertising in the local paper was paid this month in the amount of $500. The
amount was debited to Prepaid Advertising, and the advertisement is to run next
month.
е.
f.
Joe Moreland paid us $500 in advance for work to be done on his residence. The
entry to record the collection of this cash included a credit to Labor Revenue. The
work is halfway complete at the end of this month.
General Journal
Date
Post
Description
Ref.
Debit
Credit
99

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