Supplics 2,450 carnra Servi Revenue 30,000 All the accounts havc nownal alanus,

Question

Supplics 2,450 carnra Servi Revenue 30,000 All the accounts havc nownal alanus, ic ioformo- tion bclow has bcen satocredet December 31 2013 1 Devin wolf Company Idorvowed $10,oco by signing 3% ohe year Nott on September 1,2012. inaicares that supplits of $300 cC on hand $1d00.cagTon-Pn insukanu crage on June 1,20r3 OnDecemba 1, 20 3 Devin wat covected 332000 for consuhing styvites to be yeHormed from December 1, | 2017 , though math-31,208 u Dcun Wot performea consulhing Servius tor a cilent in Deumoe 2013. The client wil lr blra st 200 Dain WOl Compary pays its anmeloyers toral salare WceK Mnaay inrough aay) On Monday Decambir ot $a,000 tueny Monday tor the pveieding 5qay A, emplouuswer, aid for the wee K traim-- Drcamber 2u All mployees workea the last 3day 201

Explanation / Answer

Adjusting entry :

No. account and explanation debit credit 1 Interest expense (10000*9%*4/12) 300 Interest payable 300 (To record accured interest) 2 Supplies expense (2450-900) 1550 Supplies 1550 (To record supplies expense) 3 Depreciation expense 1000 Accumlated depreciation 1000 (To record depreciation expense) 4 Insurance expense (2100*7/12) 1225 Prepaid insurance 1225 (To record insurance expense) 5 Unearned service revenue (32000/4) 8000 Service revenue 8000 (To record service revenue) 6 Account receivable 4200 Service revenue 4200 (To record service revenue) 7 Salary expense (9000*3) 27000 Salary payable 27000 (To record accured salary)

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