ing is a list elect Company Accounts and Additional Information: Account Name unadjusted account balances at year-end, as well as additional information regarding year-end amounts. upplies nterest receivable Salaries payable Deferred revenue Account Name $14,700 Service revenue 0 Interest revenue O Supplies expense 9,500 Salaries expense Account Balance 1. Supplies remaining at the end of the year. 2. Services remaining to be provided to customers who paid in advance. 3. Employees are owed additional salaries at the end of the year. 4. A note receivable was accepted on March 31. Interest rate on note. Required: 1. Use the information provided to prepare year-end adjustments. Account Balance $132,600 0 0 48,100, 6,200 2.700 4,500 9,000 8%

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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Question
Use the cells from the given information above to complete this question. Hint: The credit
mount will automatically be set to the debit amount.)
Transaction
1
2
3
4
Account Title
Supplies expense
Supplies
Deferred revenue
Service revenue
Salaries expense
Salaries payable
Interest receivable
Interest revenue
Debit
2. Calculate adjusted balances for each account.
(Use the cells from the given information above to complete this question.)
7
3 Supplies
9 Interest receivable
O Salaries payable
-1 Deferred revenue
2
Service revenue
Interest revenue
Supplies expense
Salaries expense
Credit
+
Transcribed Image Text:Use the cells from the given information above to complete this question. Hint: The credit mount will automatically be set to the debit amount.) Transaction 1 2 3 4 Account Title Supplies expense Supplies Deferred revenue Service revenue Salaries expense Salaries payable Interest receivable Interest revenue Debit 2. Calculate adjusted balances for each account. (Use the cells from the given information above to complete this question.) 7 3 Supplies 9 Interest receivable O Salaries payable -1 Deferred revenue 2 Service revenue Interest revenue Supplies expense Salaries expense Credit +
The following is a list of unadjusted account balances at year-end, as well as additional information regarding year-end amounts.
Select Company Accounts and Additional Information:
Account Name
Supplies
Interest receivable
Salaries payable
Deferred revenue
Account Name
$14,700 Service revenue
0 Interest revenue
O Supplies expense
9,500 Salaries expense
Account Balance
1. Supplies remaining at the end of the year.
2. Services remaining to be provided to customers who paid in advance.
3. Employees are owed additional salaries at the end of the year.
54. A note receivable was accepted on March 31.
6 Interest rate on note.
7
8 Required:
9 1. Use the information provided to prepare year-end adjustments.
20
Account Balance
$132,600
0
0
48,100
6,200
2,700
4,500
9,000
8%
+
Transcribed Image Text:The following is a list of unadjusted account balances at year-end, as well as additional information regarding year-end amounts. Select Company Accounts and Additional Information: Account Name Supplies Interest receivable Salaries payable Deferred revenue Account Name $14,700 Service revenue 0 Interest revenue O Supplies expense 9,500 Salaries expense Account Balance 1. Supplies remaining at the end of the year. 2. Services remaining to be provided to customers who paid in advance. 3. Employees are owed additional salaries at the end of the year. 54. A note receivable was accepted on March 31. 6 Interest rate on note. 7 8 Required: 9 1. Use the information provided to prepare year-end adjustments. 20 Account Balance $132,600 0 0 48,100 6,200 2,700 4,500 9,000 8% +
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