Viking Trivia Company Chart of Account Titles (selected): Assets: Prepaid Rent, Prepaid Advertising. Prepaid Insurance, Office Supplies, Inventory, Accumulated Depreciation Liabilities: Interest Payable, Utilities Payable, Commissions Payable, Unearned Rent Revenues: Rent Revenue, Interest Revenue Expenses: Office Supplies Expense, Commissions Expense, Utilities Expense, Insurance Expense, Advertising Expense, Depreciation Expense, Interest Expense, Rent Expense   Review the following items and make the necessary adjusting entries using the account titles shown above as of December 31, 2019. If no entry is required, write N/A in all blanks for that item.  Round all amounts to the nearest dollar. On October 1, 2019, Viking Trivia Company purchased office equipment that cost $44,000. The estimated life of the office equipment was five years with no residual value. Debit Account:    Debit Amount: Credit Account:    Credit Amount:

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

Viking Trivia Company Chart of Account Titles (selected):

Assets: Prepaid Rent, Prepaid Advertising. Prepaid Insurance, Office Supplies, Inventory, Accumulated Depreciation

Liabilities: Interest Payable, Utilities Payable, Commissions Payable, Unearned Rent

Revenues: Rent Revenue, Interest Revenue

Expenses: Office Supplies Expense, Commissions Expense, Utilities Expense, Insurance Expense, Advertising Expense, Depreciation Expense, Interest Expense, Rent Expense

 

Review the following items and make the necessary adjusting entries using the account titles shown above as of December 31, 2019. If no entry is required, write N/A in all blanks for that item.  Round all amounts to the nearest dollar.

On October 1, 2019, Viking Trivia Company purchased office equipment that cost $44,000. The estimated life of the office equipment was five years with no residual value.

Debit Account:    Debit Amount:

Credit Account:    Credit Amount:

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education