T-accounts and determine the final balance in each account balance. (Note: Posting to the Cash account is not required.) Prepaid Insurancechoose a transaction date enter a debit amountchoose a transaction date enter a credit amountchoose the end date of the accounting period enter a debit balancechoose the end date of the accounting period enter a credit balancePrepaid Rentchoose a transaction date enter a debit amountchoose a transaction date enter a credit amountchoose the end date of the accounting period enter a debit balancechoose the end date of the accounting period enter a credit balanceUnearned Service Revenuechoose a transaction date enter a debit amountchoose a transaction date enter a credit amountchoose a transaction date enter a debit amountchoose a transaction date enter a credit amountchoose the end date of the accounting period enter a debit balancechoose the end date of the accounting period enter a credit balancePrepaid Cleaningchoose a transaction date enter a debit amountchoose a transaction date enter a credit amountchoose the end date of the accounting period enter a debit balancechoose the end date of the accounting period enter a credit balanceInsurance Expensechoose a transaction date enter a debit amountchoose a transaction date enter a credit amountchoose the end date of the accounting period enter a debit balancechoose the end date of the accounting period enter a credit balanceRent Expensechoose a transaction date enter a debit amountchoose a transaction date enter a credit amountchoose the end date of the accounting period enter a debit balancechoose the end date of the accounting period enter a credit balanceService Revenuechoose a transaction date enter a debit amountchoose a transaction date enter a credit amountchoose a transaction date enter a debit amountchoose a transaction date enter a credit amountchoose the end date of the accounting period enter a debit balancechoose the end date of the accounting period enter a credit balanceMaintenance and Repairs Expensechoose a transaction date enter a debit amountchoose a transaction date enter a credit amountchoose the end date of the accounting period enter a debit balancechoose the end date of the accounting period enter a credit balance DateAccount TitlesDebitCreditJune1Prepaid Insurance2220Cash2220Aug.31Prepaid Rent6100Cash6100Sept.4Cash3870Unearned Service Revenue3870Nov.30Prepaid Cleaning2200Cash2200Dec.Cash1600Unearned Service Revenue1600 DateAccount Titles and ExplanationDebitCreditDec. 31Insurance Expense1295Prepaid Insurance1295(To record insurance used)Dec. 31Rent Expense4880Prepaid Rent4880(To record rent used)Dec. 31Unearned Service Revenue1720Service Revenue1720(To record revenue used)Dec. 31Maintenance and Repairs Expense1100Prepaid Cleaning1100(To record maintenance)Dec. 31Unearned Service Revenue1140Service Revenue1140(To record monthly revenue)

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Description: T-accounts and determine the final balance in each account balance. (Note: Posting to the Cash account is not required.) Prepaid Insurancechoose a transaction date enter a debit a

T-Account The left side of the Account is always the debit side and the right side is always the…

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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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T-accounts and determine the final balance in each account balance. (Note: Posting to the Cash account is not required.)

Prepaid Insurance

choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose the end date of the accounting period	enter a debit balance	choose the end date of the accounting period	enter a credit balance
Prepaid Rent
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose the end date of the accounting period	enter a debit balance	choose the end date of the accounting period	enter a credit balance
Unearned Service Revenue
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose the end date of the accounting period	enter a debit balance	choose the end date of the accounting period	enter a credit balance
Prepaid Cleaning
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose the end date of the accounting period	enter a debit balance	choose the end date of the accounting period	enter a credit balance
Insurance Expense
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose the end date of the accounting period	enter a debit balance	choose the end date of the accounting period	enter a credit balance
Rent Expense
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose the end date of the accounting period	enter a debit balance	choose the end date of the accounting period	enter a credit balance
Service Revenue
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose the end date of the accounting period	enter a debit balance	choose the end date of the accounting period	enter a credit balance
Maintenance and Repairs Expense
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose the end date of the accounting period	enter a debit balance	choose the end date of the accounting period	enter a credit balance

Date
Account Titles
Debit
Credit
June
1
Prepaid Insurance
2220
Cash
2220
Aug.
31
Prepaid Rent
6100
Cash
6100
Sept.
4
Cash
3870
Unearned Service Revenue
3870
Nov.
30
Prepaid Cleaning
2200
Cash
2200
Dec.
Cash
1600
Unearned Service Revenue
1600

Date
Account Titles and Explanation
Debit
Credit
Dec. 31
Insurance Expense
1295
Prepaid Insurance
1295
(To record insurance used)
Dec. 31
Rent Expense
4880
Prepaid Rent
4880
(To record rent used)
Dec. 31
Unearned Service Revenue
1720
Service Revenue
1720
(To record revenue used)
Dec. 31
Maintenance and Repairs Expense
1100
Prepaid Cleaning
1100
(To record maintenance)
Dec. 31
Unearned Service Revenue
1140
Service Revenue
1140
(To record monthly revenue)

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