Homework Help is Here – Start Your Trial Now!
Business
Accounting
Business Course Return to course Course Content / Chapter 3 Chapter 3 Quiz Onadjusted Hai Dalatice December 31, 2023 Debits Credits Cash $15,680 Accounts Receivable 4,900 Supplies 1,700 Prepaid Rent 33,600 Equipment 20,000 Accumulated Depreciation $2,000 Accounts Payable 2,700 Unearned Revenue 3,900 Common Stock 14,400 Retained Earnings 10,500 Dividends 6,300 Service Revenue 127,890 Salaries Expense 77,000 Advertising Expense 1,300 Utilities Expense 910 $161,390 $161,390 Chapter 3 Qui Additional Information: a) The equipment was purchased on January 1, 2022. The useful life is estimated to be 10 years. b) As of December 31, 2023, the Company had accrued salaries of $1,330 c) of the balance in the Unearned Revenue account, $700 had not been earned by year-end. d) A count of supplies on December 31, 2023 showed $560 of supplies had been used during the year. e) On May 1, 2023, the Company rented an office building for one year and paid $33,600 in cash. The adjusting entry to record (e) above is: Select one: O a. Debit Credit Rent Expense 22,400 Cash Ob. Rent Expense Prepaid Rent 22,400 Debit Credit 22,400 22,400

Business Course Return to course Course Content / Chapter 3 Chapter 3 Quiz Onadjusted Hai Dalatice December 31, 2023 Debits Credits Cash $15,680 Accounts Receivable 4,900 Supplies 1,700 Prepaid Rent 33,600 Equipment 20,000 Accumulated Depreciation $2,000 Accounts Payable 2,700 Unearned Revenue 3,900 Common Stock 14,400 Retained Earnings 10,500 Dividends 6,300 Service Revenue 127,890 Salaries Expense 77,000 Advertising Expense 1,300 Utilities Expense 910 $161,390 $161,390 Chapter 3 Qui Additional Information: a) The equipment was purchased on January 1, 2022. The useful life is estimated to be 10 years. b) As of December 31, 2023, the Company had accrued salaries of $1,330 c) of the balance in the Unearned Revenue account, $700 had not been earned by year-end. d) A count of supplies on December 31, 2023 showed $560 of supplies had been used during the year. e) On May 1, 2023, the Company rented an office building for one year and paid $33,600 in cash. The adjusting entry to record (e) above is: Select one: O a. Debit Credit Rent Expense 22,400 Cash Ob. Rent Expense Prepaid Rent 22,400 Debit Credit 22,400 22,400

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
Business Course Return to course Course Content / Chapter 3 Chapter 3 Quiz Onadjusted Hai Dalatice December 31, 2023 Debits Credits Cash $15,680 Accounts Receivable 4,900 Supplies 1,700 Prepaid Rent 33,600 Equipment 20,000 Accumulated Depreciation $2,000 Accounts Payable 2,700 Unearned Revenue 3,900 Common Stock 14,400 Retained Earnings 10,500 Dividends 6,300 Service Revenue 127,890 Salaries Expense 77,000 Advertising Expense 1,300 Utilities Expense 910 $161,390 $161,390 Chapter 3 Qui Additional Information: a) The equipment was purchased on January 1, 2022. The useful life is estimated to be 10 years. b) As of December 31, 2023, the Company had accrued salaries of $1,330 c) of the balance in the Unearned Revenue account, $700 had not been earned by year-end. d) A count of supplies on December 31, 2023 showed $560 of supplies had been used during the year. e) On May 1, 2023, the Company rented an office building for one year and paid $33,600 in cash. The adjusting entry to record (e) above is: Select one: O a. Debit Credit Rent Expense 22,400 Cash Ob. Rent Expense Prepaid Rent 22,400 Debit Credit 22,400 22,400
Transcribed Image Text:Business Course Return to course Course Content / Chapter 3 Chapter 3 Quiz Onadjusted Hai Dalatice December 31, 2023 Debits Credits Cash $15,680 Accounts Receivable 4,900 Supplies 1,700 Prepaid Rent 33,600 Equipment 20,000 Accumulated Depreciation $2,000 Accounts Payable 2,700 Unearned Revenue 3,900 Common Stock 14,400 Retained Earnings 10,500 Dividends 6,300 Service Revenue 127,890 Salaries Expense 77,000 Advertising Expense 1,300 Utilities Expense 910 $161,390 $161,390 Chapter 3 Qui Additional Information: a) The equipment was purchased on January 1, 2022. The useful life is estimated to be 10 years. b) As of December 31, 2023, the Company had accrued salaries of $1,330 c) of the balance in the Unearned Revenue account, $700 had not been earned by year-end. d) A count of supplies on December 31, 2023 showed $560 of supplies had been used during the year. e) On May 1, 2023, the Company rented an office building for one year and paid $33,600 in cash. The adjusting entry to record (e) above is: Select one: O a. Debit Credit Rent Expense 22,400 Cash Ob. Rent Expense Prepaid Rent 22,400 Debit Credit 22,400 22,400
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS