Dec Debit Credit Cash $7,560 Accounts Receivable 26,040 Supplies Prepaid Insurance 5,880 1,302 Office Equipment 92,400 Accum. Depr. - Equipment $18,200 Accounts Payable 16,940 Unearned Subscription Revenue 14,000 Salaries Payable 4,900 Common Stock 35,000 Retained Earnings 32,508 Subscription Revenue 263,620 Advertising Revenue Salaries Expense 69,580 168,322 Printing and Mailing Expense 119,840 Rent Expense 12,320 Supplies Expense 8,540 Insurance Expense 2,604 Depreciation Expense 7,700 Income Tax Expense 2,240 Totals $454 748 $454 748

Dec Debit Credit Cash $7,560 Accounts Receivable 26,040 Supplies Prepaid Insurance 5,880 1,302 Office Equipment 92,400 Accum. Depr. - Equipment $18,200 Accounts Payable 16,940 Unearned Subscription Revenue 14,000 Salaries Payable 4,900 Common Stock 35,000 Retained Earnings 32,508 Subscription Revenue 263,620 Advertising Revenue Salaries Expense 69,580 168,322 Printing and Mailing Expense 119,840 Rent Expense 12,320 Supplies Expense 8,540 Insurance Expense 2,604 Depreciation Expense 7,700 Income Tax Expense 2,240 Totals $454 748 $454 748

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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