Industries prepares monthnly finane December 31 adjusted trial balances include the following account information: staten and Show the adjusting entries that were made for supplies, prepaid insurance, salaries payable, and deferred revenue on December 31. November 30 December 31 Debit Credit Debit Credit Supplies 1,550 | 3,050 Prepaid Insurance 6,200 4,650 Salaries Payable 10,100 15,100 Deferred Revenue 2,100 1,050 The following information also is known: a. Purchases of supplies in the month of December total 3,600. b. No insurance payments are made in December. c. 10,100 is paid to employees during December for November salaries. d. On November 1, a tenant pays Dollar Industries 3,150 in advance rent for the period November through January. Deferred Revenue is credited.

Industries prepares monthnly finane December 31 adjusted trial balances include the following account information: staten and Show the adjusting entries that were made for supplies, prepaid insurance, salaries payable, and deferred revenue on December 31. November 30 December 31 Debit Credit Debit Credit Supplies 1,550 | 3,050 Prepaid Insurance 6,200 4,650 Salaries Payable 10,100 15,100 Deferred Revenue 2,100 1,050 The following information also is known: a. Purchases of supplies in the month of December total 3,600. b. No insurance payments are made in December. c. 10,100 is paid to employees during December for November salaries. d. On November 1, a tenant pays Dollar Industries 3,150 in advance rent for the period November through January. Deferred Revenue is credited.

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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