Startech Surveillance Services had the following adjustments as of the end of the year: a. Equipment depreciation was $1,500. b. $700 of advertising expense was incurred but not paid. (Use Advertising Payable.) c. Office Supplies on hand at the end of the year totaled $250. The beginning balance of Office Supplies was $600. d. $1,200 of rent revenue was earned but not recorded or received. e. Unearned revenue of $3,000 had been earned. 6. For each situation, indicate which category of adjustment (deferral or accrual) is described. 7. Journalize the adjusting entry needed
Startech Surveillance Services had the following adjustments as of the end of the year: a. Equipment depreciation was $1,500. b. $700 of advertising expense was incurred but not paid. (Use Advertising Payable.) c. Office Supplies on hand at the end of the year totaled $250. The beginning balance of Office Supplies was $600. d. $1,200 of rent revenue was earned but not recorded or received. e. Unearned revenue of $3,000 had been earned. 6. For each situation, indicate which category of adjustment (deferral or accrual) is described. 7. Journalize the adjusting entry needed
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Startech Surveillance Services had the following adjustments as of the end of the year:
a. Equipment depreciation was $1,500.
b. $700 of advertising expense was incurred but not paid. (Use Advertising Payable.)
c. Office Supplies on hand at the end of the year totaled $250. The beginning balance of Office Supplies was $600.
d. $1,200 of rent revenue was earned but not recorded or received.
e. Unearned revenue of $3,000 had been earned.
6. For each situation, indicate which category of adjustment (deferral or accrual) is described.
7. Journalize the adjusting entry needed.
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