Journalize the required adjusting entries on December 31 based on the following data. If an amount box does not require an entry, leave it blank 1. Fees accrued but not billed, $6,300. 2. Supplies account balance on December 31, $4,750; Supplies on hand, $960. 3. Wages accrued but not paid, $2,700. 4. Depreciation of office equipment, $1,650. 5. Rent expired during year, $10,800. Dec. 31 31 31 31 31

Journalize the required adjusting entries on December 31 based on the following data. If an amount box does not require an entry, leave it blank 1. Fees accrued but not billed, $6,300. 2. Supplies account balance on December 31, $4,750; Supplies on hand, $960. 3. Wages accrued but not paid, $2,700. 4. Depreciation of office equipment, $1,650. 5. Rent expired during year, $10,800. Dec. 31 31 31 31 31

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 13PA: Prepare adjusting journal entries, as needed, considering the account balances excerpted from the...

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The balance in the unearned rent account for Jones Co. as of December 31 is $1,200. If Jones Co. failed to record the adjusting entry for $600 of rent earned during December, the effect on the balance sheet and income statement for December would be: A. Assets understated by $600; net income overstated by $600. B. Liabilities understated by $600; net income understated by $600. C. Liabilities overstated by $600; net income understated by $600. D. Liabilities overstated by $600; net income overstated by $600.
Data relating to the balances of various accounts affected by adjusting or closing entries appear below . Please journalize the missing entries. Uneraned Rent at 1/1/2019 was $5,300 and at 12/31/2019 it was $8,000. The records indicate cash receipts from rental sources during 2019 amounted to $42,500, all of which was credited to Unearned Rent Account. Prepare the missing adjusting entry. Allowance for Doubtful Accounts on 1/1/2019 was $50,000. The balance in the Allowance account on 12/31/2019 after making the annual adjusting entry was $58,000 and during 2019 bad debts written-off amounted to $30,000. Journalize the missing adjusting entry. Accumulated Depreciation-Equipment at 1/1/2019 was $210,000. At 12/31/2019, the balance of the account was $260,000. During 2019, one piece of equipment was sold. The equipment had an original cost of $40,000 and was 75% depreciated when sold. Journalize the missing adjusting entry. Retained earnings at 1/1/2019 was $140,000 and at…
Note: You must complete parts 1, 2, and 3 before completing part 4 of this comprehensive problem. Based on the following selected data, journalize the adjusting entries as of December 31 of the current year: If an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required" from the dropdown and leave the amount boxes blank. a. Estimated uncollectible accounts at December 31, $16,000, based on an aging of accounts receivable. The balance of Allowance for Doubtful Accounts at December 31 was $2,000 (debit). Description Debit Credit b. The physical inventory on December 31 indicated an inventory shrinkage of $3,300. Description Debit Credit c. Prepaid insurance expired during the year, $22,820. Description Debit Credit d. Office supplies used during the year, $3,920. Description Debit Credit
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Prepare adjusting journal entries, as needed, considering the account balances excerpted from the unadjusted trial balance and the adjustment data. A. amount due for employee salaries, $4,800 B. actual count of supplies inventory, $ 2,300 C. depreciation on equipment, $3,000
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