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Number Account 101 Cash 111 Accounts receivable 121 Supplies 125 Prepaid rent 151 Office equipment 152 202 Accumulated depreciation- Office equipment Accounts payable 301 Alex Raman, Capital 302 Alex Raman, Drawing 401 505 515 517 Fees income Salaries expense Telephone expense Travel expense 520 Utilities expense Total Debit $ 9,880 9,000 3,670 14,000 45,800 Credit $ 4,580 $ 7,500 $ 33,960 11,000 $ 109,800 49,500 1,350 10,390 1,250 $ 155,840 $ 155,840 Research Associates, owned by Alex Raman, is retained by large companies to test consumer reaction to new products. On January 31, 2024, the firm's worksheet showed the following adjustments data: (a) supplies used, $2,340; (b) expired rent, $13,000; and (c) depreciation on office equipment, $4,580. Show less Requirement General Journal General Ledger Trial balance Income Statement Statement of Equity Balance Sheet Post Closing 54% of available points - For transactions a) through c), prepare the adjusting entries required. For transactions d) through g), prepare the closing entries required. View transaction let Journal entry worksheet 1 2 3 4 5 6 7 a) Record the adjusting entry to record supplies used, $2,340. Note: Enter debits before credits. Date January 31, 2024 General Journal Debit Credit Supplies expense Supplies 2,340 2,340 Record entry Clear entry View general journal

Number Account 101 Cash 111 Accounts receivable 121 Supplies 125 Prepaid rent 151 Office equipment 152 202 Accumulated depreciation- Office equipment Accounts payable 301 Alex Raman, Capital 302 Alex Raman, Drawing 401 505 515 517 Fees income Salaries expense Telephone expense Travel expense 520 Utilities expense Total Debit $ 9,880 9,000 3,670 14,000 45,800 Credit $ 4,580 $ 7,500 $ 33,960 11,000 $ 109,800 49,500 1,350 10,390 1,250 $ 155,840 $ 155,840 Research Associates, owned by Alex Raman, is retained by large companies to test consumer reaction to new products. On January 31, 2024, the firm's worksheet showed the following adjustments data: (a) supplies used, $2,340; (b) expired rent, $13,000; and (c) depreciation on office equipment, $4,580. Show less Requirement General Journal General Ledger Trial balance Income Statement Statement of Equity Balance Sheet Post Closing 54% of available points - For transactions a) through c), prepare the adjusting entries required. For transactions d) through g), prepare the closing entries required. View transaction let Journal entry worksheet 1 2 3 4 5 6 7 a) Record the adjusting entry to record supplies used, $2,340. Note: Enter debits before credits. Date January 31, 2024 General Journal Debit Credit Supplies expense Supplies 2,340 2,340 Record entry Clear entry View general journal

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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Number Account 101 Cash 111 Accounts receivable 121 Supplies 125 Prepaid rent 151 Office equipment 152 202 Accumulated depreciation- Office equipment Accounts payable 301 Alex Raman, Capital 302 Alex Raman, Drawing 401 505 515 517 Fees income Salaries expense Telephone expense Travel expense 520 Utilities expense Total Debit $ 9,880 9,000 3,670 14,000 45,800 Credit $ 4,580 $ 7,500 $ 33,960 11,000 $ 109,800 49,500 1,350 10,390 1,250 $ 155,840 $ 155,840 Research Associates, owned by Alex Raman, is retained by large companies to test consumer reaction to new products. On January 31, 2024, the firm's worksheet showed the following adjustments data: (a) supplies used, $2,340; (b) expired rent, $13,000; and (c) depreciation on office equipment, $4,580. Show less Requirement General Journal General Ledger Trial balance Income Statement Statement of Equity Balance Sheet Post Closing 54% of available points - For transactions a) through c), prepare the adjusting entries required. For transactions d) through g), prepare the closing entries required. View transaction let Journal entry worksheet 1 2 3 4 5 6 7 a) Record the adjusting entry to record supplies used, $2,340. Note: Enter debits before credits. Date January 31, 2024 General Journal Debit Credit Supplies expense Supplies 2,340 2,340 Record entry Clear entry View general journal
Transcribed Image Text:Number Account 101 Cash 111 Accounts receivable 121 Supplies 125 Prepaid rent 151 Office equipment 152 202 Accumulated depreciation- Office equipment Accounts payable 301 Alex Raman, Capital 302 Alex Raman, Drawing 401 505 515 517 Fees income Salaries expense Telephone expense Travel expense 520 Utilities expense Total Debit $ 9,880 9,000 3,670 14,000 45,800 Credit $ 4,580 $ 7,500 $ 33,960 11,000 $ 109,800 49,500 1,350 10,390 1,250 $ 155,840 $ 155,840 Research Associates, owned by Alex Raman, is retained by large companies to test consumer reaction to new products. On January 31, 2024, the firm's worksheet showed the following adjustments data: (a) supplies used, $2,340; (b) expired rent, $13,000; and (c) depreciation on office equipment, $4,580. Show less Requirement General Journal General Ledger Trial balance Income Statement Statement of Equity Balance Sheet Post Closing 54% of available points - For transactions a) through c), prepare the adjusting entries required. For transactions d) through g), prepare the closing entries required. View transaction let Journal entry worksheet 1 2 3 4 5 6 7 a) Record the adjusting entry to record supplies used, $2,340. Note: Enter debits before credits. Date January 31, 2024 General Journal Debit Credit Supplies expense Supplies 2,340 2,340 Record entry Clear entry View general journal
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