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Mar. 31 Accounts Receivable 700         Service Revenue   700       To accrue service revenue.     (b) Mar. 31 Unearned Revenue 100         Service Revenue   100       To record service revenue that was collected in advance.     (c) Mar. 31 Supplies Expense 400         Office Supplies   400       To record office supplies used.     (d) Mar. 31 Salaries Expense 200         Salaries Payable   200       To accrue salaries expense.     (e) Mar. 31 Rent Expense 560         Prepaid Rent   560       To record rent expense.     (f) Mar. 31 Depreciation Expense—Equipment 120         Accumulated Depreciation—Equipment   120       To record depreciation on equipment use the following adjustments to make a T-acct for each item, continued instructions found in image

Mar. 31 Accounts Receivable 700         Service Revenue   700       To accrue service revenue.     (b) Mar. 31 Unearned Revenue 100         Service Revenue   100       To record service revenue that was collected in advance.     (c) Mar. 31 Supplies Expense 400         Office Supplies   400       To record office supplies used.     (d) Mar. 31 Salaries Expense 200         Salaries Payable   200       To accrue salaries expense.     (e) Mar. 31 Rent Expense 560         Prepaid Rent   560       To record rent expense.     (f) Mar. 31 Depreciation Expense—Equipment 120         Accumulated Depreciation—Equipment   120       To record depreciation on equipment use the following adjustments to make a T-acct for each item, continued instructions found in image

FINANCIAL ACCOUNTING
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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a) Mar. 31
Accounts Receivable
700
 
 
 
 
Service Revenue
 
700
 
 
 
To accrue service revenue.
 
 
(b) Mar. 31
Unearned Revenue
100
 
 
 
 
Service Revenue
 
100
 
 
 
To record service revenue that was collected in advance.
 
 
(c) Mar. 31
Supplies Expense
400
 
 
 
 
Office Supplies
 
400
 
 
 
To record office supplies used.
 
 
(d) Mar. 31
Salaries Expense
200
 
 
 
 
Salaries Payable
 
200
 
 
 
To accrue salaries expense.
 
 
(e) Mar. 31
Rent Expense
560
 
 
 
 
Prepaid Rent
 
560
 
 
 
To record rent expense.
 
 
(f) Mar. 31
Depreciation Expense—Equipment
120
 
 
 
 
Accumulated Depreciation—Equipment
 
120
 
 
 
To record depreciation on equipment

use the following adjustments to make a T-acct for each item, continued instructions found in image

Enter the unadjusted balances on the first line of each account. Use a "Mar. 31" reference to show the unadjusted balance. Post the adjusting entries to the T-accounts using the corresponding letters (a) through (f) as posting references. Use a "Bal." reference to show the ending balance of each account. (For accounts with a $0 unadjusted balance, make sure to enter "0" on the normal side of the accounts.) Review the adjusting entries you prepared in Requirement 1. Accounts Receivable Office Supplies Salaries Payable Unearned Revenue Service Revenue Salaries Expense
Transcribed Image Text:Enter the unadjusted balances on the first line of each account. Use a "Mar. 31" reference to show the unadjusted balance. Post the adjusting entries to the T-accounts using the corresponding letters (a) through (f) as posting references. Use a "Bal." reference to show the ending balance of each account. (For accounts with a $0 unadjusted balance, make sure to enter "0" on the normal side of the accounts.) Review the adjusting entries you prepared in Requirement 1. Accounts Receivable Office Supplies Salaries Payable Unearned Revenue Service Revenue Salaries Expense
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