Note: you have 44 hours to finish the exam, you can leave the classroom during t

Question

Note: you have 44 hours to finish the exam, you can leave the classroom during the test. After you are done please drop it in my office.(13-1315) On December 31, the end the current year, the following data was accumulated to assist the accountant in preparing the adjusting entries for Wyckoff Realty Inc. The supplies account balance on December 31 is $2,450, Supplies on hand on December 31 is $490 The unearned rent account balance on December 31 is $2400, representing the receipt of an advance payment on December 1 of three months' rent from tenants. Wages accrued but not paid at December 31 are $1,500. fees accrued but unbilled at December 31 are $7,500. Journalize the adjustments for the end of the year.

Explanation / Answer

a. Plumbing Supplies Expense 1960

Plumbing Supplies 1960

b.

Unearned Service Fees 525

Service Fees 525

c.

Wages Expense 1,500

Wages Payable 1,500

d.

Accounts Receivable 7,500

Service Fees 7,500

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