СР 3-1The preparation of adjusting entries requires a debit entry to oneaccount and a credit entry to another account.Aвa. Insurance Expenseb. Rent Earned1. Commissions Earned2. Supplies Expense3. Salaries Expensec. Prepaid Rentd. Interest Payable4. Unearned Feese. Interest Receivable5.Accumulated Depreciationf. Fees Earnedg. Unused Supplies6. Rent Expense7. Prepaid Insuranceh. Unearned Commissions Revenue8. Interest Earnedi. Salaries Payablej. Depreciation Expense9. Interest Expense10. Unearned RentRequired: Match each account in column A with the appropriate accountin column B.

Adjusting journal entry: At year end when company finalise its accounts then any unrecognized income…

The preparation of adjusting entries requires a debit entry to one account and a credit entry to another account. A B a. Insurance Expense 1. Commissions Earned b. Rent Earned 2. Supplies Expense 3. Salaries Expense c. Prepaid Rent d. Interest Payable 4. Unearned Fees 5. Accumulated Depreciation 6. Rent Expense 7. Prepaid Insurance e. Interest Receivable f. Fees Earned g. Unused Supplies h. Unearned Commissions Revenue 8. Interest Earned i. Salaries Payable j. Depreciation Expense 9. Interest Expense 10. Unearned Rent Required: Match each account in column A with the appropriate account in column B.

The preparation of adjusting entries requires a debit entry to one account and a credit entry to another account. A B a. Insurance Expense 1. Commissions Earned b. Rent Earned 2. Supplies Expense 3. Salaries Expense c. Prepaid Rent d. Interest Payable 4. Unearned Fees 5. Accumulated Depreciation 6. Rent Expense 7. Prepaid Insurance e. Interest Receivable f. Fees Earned g. Unused Supplies h. Unearned Commissions Revenue 8. Interest Earned i. Salaries Payable j. Depreciation Expense 9. Interest Expense 10. Unearned Rent Required: Match each account in column A with the appropriate account in column B.

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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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

СР 3-1
The preparation of adjusting entries requires a debit entry to one
account and a credit entry to another account.
A
в
a. Insurance Expense
b. Rent Earned
1. Commissions Earned
2. Supplies Expense
3. Salaries Expense
c. Prepaid Rent
d. Interest Payable
4. Unearned Fees
e. Interest Receivable
5.
Accumulated Depreciation
f. Fees Earned
g. Unused Supplies
6. Rent Expense
7. Prepaid Insurance
h. Unearned Commissions Revenue
8. Interest Earned
i. Salaries Payable
j. Depreciation Expense
9. Interest Expense
10. Unearned Rent
Required: Match each account in column A with the appropriate account
in column B.

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