Comprehensive Problem 1 Part 4 and Part 6: The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of concepts. Note: You must complete parts 1, 2 and 3 before completing parts 4 and 6. Please note that part 5 is optional. Part 4: At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6). a. Insurance expired during May is $275. b. Supplies on hand on May 31 are $715. C. Depreciation of office equipment for May is $330. d. Accrued receptionist salary on May 31 is $325. e. Rent expired during May is $1,600. I. Unearned fees on May 31 are $3,210. Part 6: Journalize the adjusting entries. Then, post the entries to the attached spreadsheet from part 2. a. Insurance expired during May is $275. Account Name Post. Ref. Debit Credit b. Supplies on hand on May 31 are $715. Account Name Post. Ref. Debit Credit c Depreciation of office equipment for May is $330. Account Name Post. Ref. Debit Credit d. Accrued receptionist salery on May 31 is $325. Account Name Post. Ref. Debit Credit e. Rent expired during May is $1,600. Account Name Post. Ref. Debit Credit f. Uneamed fees on May 31 are $3,210. Account Name Post. Ref. Debit Credit
Comprehensive Problem 1 Part 4 and Part 6: The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of concepts. Note: You must complete parts 1, 2 and 3 before completing parts 4 and 6. Please note that part 5 is optional. Part 4: At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6). a. Insurance expired during May is $275. b. Supplies on hand on May 31 are $715. C. Depreciation of office equipment for May is $330. d. Accrued receptionist salary on May 31 is $325. e. Rent expired during May is $1,600. I. Unearned fees on May 31 are $3,210. Part 6: Journalize the adjusting entries. Then, post the entries to the attached spreadsheet from part 2. a. Insurance expired during May is $275. Account Name Post. Ref. Debit Credit b. Supplies on hand on May 31 are $715. Account Name Post. Ref. Debit Credit c Depreciation of office equipment for May is $330. Account Name Post. Ref. Debit Credit d. Accrued receptionist salery on May 31 is $325. Account Name Post. Ref. Debit Credit e. Rent expired during May is $1,600. Account Name Post. Ref. Debit Credit f. Uneamed fees on May 31 are $3,210. Account Name Post. Ref. Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Comprehensive Problem 1
Part 4 and Part 6:
The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of th
concepts. Note: You must complete parts 1, 2 and 3 before completing parts 4 and 6. Please note that part 5 is optional.
Part 4: At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6).
a. Insurance expired during May is $275.
b. Supplies on hand on May 31 are $715.
C. Depreciation of office equipment for May is $330.
d. Accrued receptionist salary on May 31 is $325.
e. Rent expired during May is $1i,600.
I Uneamed fees on May 31 are $3,210.
Part 6: Journalize the adjusting entries. Then, post the entries to the attached spreadsheet from part 2.
a. Insurance expired during May is $275.
Account Name
Post. Ref.
Debit
Credit
b. Supplies on hand on May 31 are $715.
Account Name
Post. Ref.
Debit
Credit
c Depreciation of office equipment for May is $330.
Account Name
Post. Ref.
Debit
Credit
d. Accrued receptionist sálery on May 31 is $325.
Account Name
Post. Ref.
Debit
Credit
e. Rent expired during May is $1,600.
Account Name
Post. Ref,
Debit
Credit
f. Uneamed fees on May 31 are $3,210.
Account Name
Post. Ref.
Debit
Credit
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