CHART OF ACCOUNTS101 Cash401 Service Revenue211 Notes Payable212 Accounts Payable451 Rent Revenue111 Notes Receivable214 Interest Payable491 Interest Revenue112 Accounts Receivable114 Interest Receivable216 Wages Payable511 Depreciation Expense125 Supplies261 Unearned Revenue513 Insurance Expense130 Prepaid Insurance311 Common Stock515 Rent Expense320 Retained Earnings517 Wages Expense519 Supplies Expense132 Prepaid Rent161 Equipment162 Accumulated Depreciation591 Interest ExpenseCorporation purchased equipment on July 1 and gave an 18-month, 10% interest-bearing note with a face value of $45,000. Depreciation will be for 10 yearsusing the straight-line method. The December 31 depreciation adjusting entry would be:DateEnter Account NumberDebitCreditXX/XX/XXWould this adjusting entry be reversed?(Y for Yes or N for No)

Name: CHART OF ACCOUNTS101 Cash401 Service Revenue211 Notes Payable212 Acco
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Description: CHART OF ACCOUNTS101 Cash401 Service Revenue211 Notes Payable212 Accounts Payable451 Rent Revenue111 Notes Receivable214 Interest Payable491 Interest Revenue112 Accounts Receivable114 Interest Receivable216 Wages Payable511 Depreciation Expense125 S

Depreciation means the loss in value of assets because of usage of assets , passage of time or…

Business

Accounting

CHART OF ACCOUNTS 101 Cash 401 Service Revenue 211 Notes Payable 212 Accounts Payable 451 Rent Revenue 111 Notes Receivable 112 Accounts Receivable 214 Interest Payable 491 Interest Revenue 216 Wages Payable 511 Depreciation Expense 513 Insurance Expense 515 Rent Expense 114 Interest Receivable 261 Unearned Revenue 125 Supplies 311 Common Stock 130 Prepaid Insurance 132 Prepaid Rent 320 Retained Earnings 517 Wages Expense 519 Supplies Expense 591 Interest Expense 161 Equipment 162 Accumulated Depreciation Corporation purchased equipment on July 1 and gave an 18-month, 10% interest-bearing note with a face value of $45,000. Depreciation will be for 10 years using the straight-line method. The December 31 depreciation adjusting entry would be: Date Enter Account Number Debit Credit XX/XX/XX Would this adjusting entry be reversed? (Y for Yes or N for No)

CHART OF ACCOUNTS 101 Cash 401 Service Revenue 211 Notes Payable 212 Accounts Payable 451 Rent Revenue 111 Notes Receivable 112 Accounts Receivable 214 Interest Payable 491 Interest Revenue 216 Wages Payable 511 Depreciation Expense 513 Insurance Expense 515 Rent Expense 114 Interest Receivable 261 Unearned Revenue 125 Supplies 311 Common Stock 130 Prepaid Insurance 132 Prepaid Rent 320 Retained Earnings 517 Wages Expense 519 Supplies Expense 591 Interest Expense 161 Equipment 162 Accumulated Depreciation Corporation purchased equipment on July 1 and gave an 18-month, 10% interest-bearing note with a face value of $45,000. Depreciation will be for 10 years using the straight-line method. The December 31 depreciation adjusting entry would be: Date Enter Account Number Debit Credit XX/XX/XX Would this adjusting entry be reversed? (Y for Yes or N for No)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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LEDGER Account: Cash11Account No. DATE ITEM POST. REF. DEBIT CREDIT BALANCE DEBIT CREDIT 1 2 3 4 5 6 7 8 9 10 11 12 Account: Accounts Receivable12Account No. DATE ITEM POST. REF. DEBIT CREDIT BALANCE DEBIT CREDIT 1 2 Account: Supplies13Account No. DATE ITEM POST. REF. DEBIT CREDIT BALANCE DEBIT CREDIT 1 Account: Prepaid Insurance14Account No. DATE ITEM POST. REF. DEBIT CREDIT BALANCE DEBIT CREDIT 1…
Please see attached docs. CHART OF ACCOUNTSASSETS110 Cash111 Petty Cash121 Accounts Receivable122 Allowance for Doubtful Accounts126 Interest Receivable127 Notes Receivable131 Merchandise Inventory141 Office Supplies142 Store Supplies151 Prepaid Insurance191 Land192 Store Equipment193 Accumulated Depreciation-Store Equipment194 Office Equipment195 Accumulated Depreciation-Office EquipmentLIABILITIES210 Accounts Payable221 Salaries Payable231 Sales Tax Payable232 Interest Payable241 Notes Payable251 Bonds Payable252 Discount on Bonds Payable253 Premium on Bonds PayableEQUITY311 Common Stock312 Paid-In Capital in Excess of Par-Common Stock315 Treasury Stock321 Preferred Stock322 Paid-In Capital in Excess of Par-Preferred Stock331 Paid-In Capital from Sale of Treasury Stock340 Retained Earnings351 Cash Dividends352 Stock DividendsREVENUE410 Sales610 Interest Revenue611 Gain on Redemption of BondsEXPENSES510 Cost of Merchandise Sold515 Credit Card Expense516 Cash Short and Over521 Sales…
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CHART OF ACCOUNTS General Ledger ASSETS 110 Cash 111 Petty Cash 112 Accounts Receivable 114 Interest Receivable 115 Notes Receivable 116 Merchandise Inventory 117 Supplies 119 Prepaid Insurance 120 Land 123 Delivery Truck 124 Accumulated Depreciation-Delivery Truck 125 Equipment 126 Accumulated Depreciation-Equipment 130 Mineral Rights 131 Accumulated Depletion 132 Goodwill 133 Patents LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends REVENUE 410 Sales 610 Interest Revenue 620 Gain on Sale of Delivery Truck 621 Gain on Sale of Equipment EXPENSES 510 Cost of Merchandise Sold 520 Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Delivery Truck 523 Delivery Expense 524 Repairs and Maintenance Expense 529 Selling…
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