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Current Attempt in Progress The ledger of Waterway Rental Agency on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense Debit Credit $4,800 5,760 40,000 $13,440 32,000 19,840 96,000 0 22,400 An analysis of the accounts shows the following. 1. The equipment depreciates $448 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $640 is accrued on the notes payable. 4. Supplies on hand total $1,360. 5. Insurance expires at the rate of $640 per month. Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation 1. Mar. 31 2. Mar. 31 က 3. Mar. 31 4. Mar. 31 5. Mar. 31 eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 3 used Submit Answer

Current Attempt in Progress The ledger of Waterway Rental Agency on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense Debit Credit $4,800 5,760 40,000 $13,440 32,000 19,840 96,000 0 22,400 An analysis of the accounts shows the following. 1. The equipment depreciates $448 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $640 is accrued on the notes payable. 4. Supplies on hand total $1,360. 5. Insurance expires at the rate of $640 per month. Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation 1. Mar. 31 2. Mar. 31 က 3. Mar. 31 4. Mar. 31 5. Mar. 31 eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 3 used Submit Answer

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 14P: Comprehensive: Balance Sheet, Schedules, and Notes The following is an alphabetical listing of Stone...
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Current Attempt in Progress The ledger of Waterway Rental Agency on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense Debit Credit $4,800 5,760 40,000 $13,440 32,000 19,840 96,000 0 22,400 An analysis of the accounts shows the following. 1. The equipment depreciates $448 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $640 is accrued on the notes payable. 4. Supplies on hand total $1,360. 5. Insurance expires at the rate of $640 per month. Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation 1. Mar. 31 2. Mar. 31 က 3. Mar. 31 4. Mar. 31 5. Mar. 31 eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 3 used Submit Answer
Transcribed Image Text:Current Attempt in Progress The ledger of Waterway Rental Agency on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense Debit Credit $4,800 5,760 40,000 $13,440 32,000 19,840 96,000 0 22,400 An analysis of the accounts shows the following. 1. The equipment depreciates $448 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $640 is accrued on the notes payable. 4. Supplies on hand total $1,360. 5. Insurance expires at the rate of $640 per month. Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation 1. Mar. 31 2. Mar. 31 က 3. Mar. 31 4. Mar. 31 5. Mar. 31 eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 3 used Submit Answer
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