Prepare adjusting entries for the following transactions. (Credit account titles are automatically indented when the amount is entered not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) 1. 2. 3 Depreciation on equipment is $900 for the accounting period. There was no beginning balance of supplies and purchased $500 of supplies during the period. At the end of the period $150 of supplies were on hand. Prepaid rent had a $1.000 normal balance prior to adjustment. By year end $400 was unexpired. No. Account Titles and Explanation 1. 2. Debit Credit

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Prepare adjusting entries for the following transactions. (Credit account titles are automatically indented when the amount is entered. Do
not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts)
1.
2.
3.
Depreciation on equipment is $900 for the accounting period.
There was no beginning balance of supplies and purchased $500 of supplies during the period. At the end of the period
$150 of supplies were on hand.
Prepaid rent had a $1.000 normal balance prior to adjustment. By year end $400 was unexpired.
No. Account Titles and Explanation
1.
3.
Debit
0000
Credit
Transcribed Image Text:Prepare adjusting entries for the following transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) 1. 2. 3. Depreciation on equipment is $900 for the accounting period. There was no beginning balance of supplies and purchased $500 of supplies during the period. At the end of the period $150 of supplies were on hand. Prepaid rent had a $1.000 normal balance prior to adjustment. By year end $400 was unexpired. No. Account Titles and Explanation 1. 3. Debit 0000 Credit
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