For each of the above transactions, prepare the adjusting journal entry that is required on December 31. (Hint: Use the account Service Revenue for item 3 and Maintenance and Repairs Expense for item 4.) (List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually) lo. Date Account Titles and Explanation Dec. 31, 2025 Dec. 31, 2025 Dec. 31, 2025 Dec. 31, 2025 Dec. Insurance Expense 31, 2025 Prepaid Insurance Rent Expense Prepald Rent Unearned Service Revenue Service Revenue Maintenance and Repairs Expense Prepaid Cleaning Unearned Service Revenue Debit 1546 390 Credit 000000000 390
For each of the above transactions, prepare the adjusting journal entry that is required on December 31. (Hint: Use the account Service Revenue for item 3 and Maintenance and Repairs Expense for item 4.) (List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually) lo. Date Account Titles and Explanation Dec. 31, 2025 Dec. 31, 2025 Dec. 31, 2025 Dec. 31, 2025 Dec. Insurance Expense 31, 2025 Prepaid Insurance Rent Expense Prepald Rent Unearned Service Revenue Service Revenue Maintenance and Repairs Expense Prepaid Cleaning Unearned Service Revenue Debit 1546 390 Credit 000000000 390
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
H1.
Transcribed Image Text:Skysong Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31, 2025.
Purchased a 1-year insurance policy on June 1 for $1,440 cash.
Paid $5,330 on August 31 for 5 months' rent in advance.
On September 4, received $3,960 cash in advance from a corporation to sponsor a game each month for a total of 9 months
for the most improved students at a local school.
1.
2
3.
4.
5.
Signed a contract for cleaning services starting December 1 for $820 per month. Paid for the first 2 months on November 30.
(Hint: Use the account Prepaid Cleaning to record prepayments.)
On December 5, received $1,230 in advance from a gaming club. Determined that on December 31, $390 of these games had
not yet been played.
Transcribed Image Text:For each of the above transactions, prepare the adjusting journal entry that is required on December 31. (Hint: Use the account
Service Revenue for item 3 and Maintenance and Repairs Expense for item 4.) (List all debit entries before credit entries. If no entry is
required, select "No Entry" for the account titles and enter O for the amounts, Credit account titles are automatically indented when the
amount is entered. Do not indent manually)
lo. Date Account Titles and Explanation
Dec.
31,
2025
Dec.
31,
2025
Dec.
31,
2025
Dec.
31,
2025
Insurance Expense
Prepaid Insurance
2025
Rent Expense
Prepald Rent
Unearned Service Revenue
Service Revenue
Maintenance and Repairs Expense
Prepaid Cleaning
Dec.
31, Unearned
Service Revenue
Debit
1546
[000000000
100
1
Credit
390
390
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