From the list of journal entries shown, indicate all of the entries that are adjusting entries.a. Supplies125Cash125b. CashInterest Receivablec. Prepaid Insurance 300Cash0 d. Deferred RevenueService Revenuee.Income Tax Expensef. Interest PayableUIncome Tax PayableBank Loan PayableCashg. Salaries ExpenseSalaries Payable280502501055,000300501,2002802505,1051,200 MORRISON SERVICES LTD.Adjusted Trial BalanceAugust 31, 2021Debit$11,41018,2003,0003,55026,000CreditCashAccounts receivableSuppliesPrepaid insuranceEquipmentAccumulated depreciation-equipmentAccounts payableSalaries payableInterest payableRent payableIncome tax payableDeferred revenueBank loan payable, 2024Common sharesRetained earningsDividends declared600Service revenueSalaries expense19,400Rent expense14,525Depreciation expense2,355Supplies expense1,770Interest expense1,580Insurance expense1,120Income tax expense2,020Total$105,530$105,530During the year, the company issued common shares for $1,500.$5,9052,9002,2001,5801,5001,60040023,3005,2005,60055,345

The adjustment entries are prepared to adjust the revenue and expenses of the current period. The…

From the list of journal entries shown, indicate all of the entries that are adjusting entries. a. Supplies 125 Cash 125 b. Cash Interest Receivable c. Prepaid Insurance 300 Cash 0 d. Deferred Revenue 50 Service Revenue e. Income Tax Expense 0 Income Tax Payable f. Interest Payable Bank Loan Payable Cash g. Salaries Expense Salaries Payable 280 250 105 5,000 300 50 1,200 280 250 5,105 1,200

From the list of journal entries shown, indicate all of the entries that are adjusting entries. a. Supplies 125 Cash 125 b. Cash Interest Receivable c. Prepaid Insurance 300 Cash 0 d. Deferred Revenue 50 Service Revenue e. Income Tax Expense 0 Income Tax Payable f. Interest Payable Bank Loan Payable Cash g. Salaries Expense Salaries Payable 280 250 105 5,000 300 50 1,200 280 250 5,105 1,200

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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