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Entry Explanation F 1 2 3 لنا 4 5 6 7 8 9 10 11 12 A F H D A G C H E D Cash Accounts Receivable (from consulting) Cash Unearned Revenue Cash Journal Entries Interest Receivable Rent Expense Prepaid Rent Interest Expense Interest Payable Depreciation Expense Accumulated Depreciation Unearned Revenue Services Revenue Insurance Expense Prepaid Insurance Salaries Payable Cash Prepaid Rent Cash Salaries Expense Salaries Payable Interest Receivable Interest Revenue Debit 1,500 4,500 4,000 4,600 1,700 3,600 6,600 4,800 8,600 7,200 1,300 1,900 Credit 1,500 4,500 4,000 4,600 1,700 3,600 6,600 4,800 8,600 7,200 1,300 1,900

Entry Explanation F 1 2 3 لنا 4 5 6 7 8 9 10 11 12 A F H D A G C H E D Cash Accounts Receivable (from consulting) Cash Unearned Revenue Cash Journal Entries Interest Receivable Rent Expense Prepaid Rent Interest Expense Interest Payable Depreciation Expense Accumulated Depreciation Unearned Revenue Services Revenue Insurance Expense Prepaid Insurance Salaries Payable Cash Prepaid Rent Cash Salaries Expense Salaries Payable Interest Receivable Interest Revenue Debit 1,500 4,500 4,000 4,600 1,700 3,600 6,600 4,800 8,600 7,200 1,300 1,900 Credit 1,500 4,500 4,000 4,600 1,700 3,600 6,600 4,800 8,600 7,200 1,300 1,900

FINANCIAL ACCOUNTING
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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For journal entries 1 through 12, indicate the explanation that most closely describes it. You can use explanations more than once.

  1. To record receipt of unearned revenue.
  2. To record this period's earning of prior unearned revenue.
  3. To record payment of an accrued expense.
  4. To record receipt of an accrued revenue.
  5. To record an accrued expense.
  6. To record an accrued revenue.
  7. To record this period's use of a prepaid expense.
  8. To record payment of a prepaid expense.
  9. To record this period's depreciation expense.

 

### Journal Entries Overview The table below contains a list of journal entries for various financial transactions. Each entry includes an explanation, the affected accounts, and the corresponding debit and credit amounts. | Entry | Explanation | Journal Entries | Debit | Credit | |-------|----------------------|-------------------------------------------------|-------|--------| | 1 | F | Cash | 1,500 | | | | | Accounts Receivable (from consulting) | | 1,500 | | 2 | A | Cash | 4,500 | | | | | Unearned Revenue | | 4,500 | | 3 | F | Cash | 4,000 | | | | | Interest Receivable | | 4,000 | | 4 | H | Rent Expense | 4,600 | | | | | Prepaid Rent | | 4,600 | | 5 | D | Interest Expense | 1,700 | | | | | Interest Payable | | 1,700 | | 6 | I | Depreciation Expense | 3,600 | | | | | Accumulated Depreciation | | 3,600 | | 7 | A | Unearned Revenue | 6,600 | | | | | Services Revenue | | 6,600 | | 8 | G | Insurance Expense | 4,800 | | | | | Prepaid Insurance | | 4,800 | | 9 | C | Salaries Payable | 8,600 | | | | | Cash | | 8,600 | | 10 | H | Prepaid Rent | 7,200 | | | | | Cash | | 7,200 | | 11 | E | Salaries Expense | 1,300 | | | | | Salaries Payable | | 1,300 | | 12 | D | Interest Receivable | 1,900 | | |
Transcribed Image Text:### Journal Entries Overview The table below contains a list of journal entries for various financial transactions. Each entry includes an explanation, the affected accounts, and the corresponding debit and credit amounts. | Entry | Explanation | Journal Entries | Debit | Credit | |-------|----------------------|-------------------------------------------------|-------|--------| | 1 | F | Cash | 1,500 | | | | | Accounts Receivable (from consulting) | | 1,500 | | 2 | A | Cash | 4,500 | | | | | Unearned Revenue | | 4,500 | | 3 | F | Cash | 4,000 | | | | | Interest Receivable | | 4,000 | | 4 | H | Rent Expense | 4,600 | | | | | Prepaid Rent | | 4,600 | | 5 | D | Interest Expense | 1,700 | | | | | Interest Payable | | 1,700 | | 6 | I | Depreciation Expense | 3,600 | | | | | Accumulated Depreciation | | 3,600 | | 7 | A | Unearned Revenue | 6,600 | | | | | Services Revenue | | 6,600 | | 8 | G | Insurance Expense | 4,800 | | | | | Prepaid Insurance | | 4,800 | | 9 | C | Salaries Payable | 8,600 | | | | | Cash | | 8,600 | | 10 | H | Prepaid Rent | 7,200 | | | | | Cash | | 7,200 | | 11 | E | Salaries Expense | 1,300 | | | | | Salaries Payable | | 1,300 | | 12 | D | Interest Receivable | 1,900 | | |
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