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Other data: Insurance expires at the rate of $360 per month 2. A count of supplies shows $1.150 of unused supplies on May 31. 3. Annual depreciation is $3,600 on the building and $3,000 on equipment. The notes payable interest rate is 5%. (The note was taken out on May 1 and has a 1-year life. Interest and principal are to be repaid at the maturity of the note) Unearned rent of $2,630 has been earned. Salaries of $750 are accrued and unpaid at May 31 1. 4 5. 6 (a) Journalize the adjusting entries on May 31. (List all debit entries before credit entries. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the

Other data: Insurance expires at the rate of $360 per month 2. A count of supplies shows $1.150 of unused supplies on May 31. 3. Annual depreciation is $3,600 on the building and $3,000 on equipment. The notes payable interest rate is 5%. (The note was taken out on May 1 and has a 1-year life. Interest and principal are to be repaid at the maturity of the note) Unearned rent of $2,630 has been earned. Salaries of $750 are accrued and unpaid at May 31 1. 4 5. 6 (a) Journalize the adjusting entries on May 31. (List all debit entries before credit entries. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the

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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Other data Insurance expires at the rate of $360 per month 2. A count of supplies shows $1.150 of unused supplies on May 31. 3. Annual depreciation is $3,600 on the building and $3,000 on equipment. The notes payable interest rate is 5%. (The note was taken out on May 1 and has a 1-year life. Interest and principal are to be repaid at the maturity of the note) Unearned rent of $2,630 has been earned. Salaries of $750 are accrued and unpaid at May 31. 1. 4 5. 4 (a) Journalize the adjusting entries on May 31 (List all debit entries before credit entries. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the
Transcribed Image Text:Other data Insurance expires at the rate of $360 per month 2. A count of supplies shows $1.150 of unused supplies on May 31. 3. Annual depreciation is $3,600 on the building and $3,000 on equipment. The notes payable interest rate is 5%. (The note was taken out on May 1 and has a 1-year life. Interest and principal are to be repaid at the maturity of the note) Unearned rent of $2,630 has been earned. Salaries of $750 are accrued and unpaid at May 31. 1. 4 5. 4 (a) Journalize the adjusting entries on May 31 (List all debit entries before credit entries. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the
Question 6 of 7 Cash Supplies Prepaid Insurance Land Cranerioter Trial Balance May 31, 2025 Buildings Equipment Accounts Payable Unearned Rent Revenue: Notes Payable Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Debit $2,593 2,600 1,800 15,093 72,400 16,800 3,000 800 500 $115,586 Credit $4,793 3,300 38,400 60,093 9,000 $115,586
Transcribed Image Text:Question 6 of 7 Cash Supplies Prepaid Insurance Land Cranerioter Trial Balance May 31, 2025 Buildings Equipment Accounts Payable Unearned Rent Revenue: Notes Payable Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Debit $2,593 2,600 1,800 15,093 72,400 16,800 3,000 800 500 $115,586 Credit $4,793 3,300 38,400 60,093 9,000 $115,586
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