Saved a. Supplies used during the month, $2,900. b. Expired rent for the month,

Question

Saved a. Supplies used during the month, $2,900. b. Expired rent for the month, $3,500. c. Depreciation expense for the month, $950. UNIVERSITY BOOK STORE Adjusted Trial Balance November 30, 2019 Account Name Debit 23,075 3,812 4,600 21,000 27,500 Credit Cash Accounts Receivable Supplies Prepaid Rent Equipment Accumulated Depreciation-Equipment Accounts Payable Ruby Darbandi, Capital Ruby Darbandi, Drawing Fees Income Depreciation Expense-Equipment Rent Expense $950 9,000 41,837 4,000 48,550 950 3,500 8,500 2,900 500 Salaries Expense Supplies Expense Utilities Expense Totals $100,337 $100,337 Required: 2. Record the adjusting entries in the Adjustments columns.

Explanation / Answer

JOURNAL ENTRIES: Date Accounts titles and explanations Debit $ Credit $ a Supplies expense 2900     Supplies 2900 b. Rent expense Dr. 3500     Prepaid rent 3500 c. Depreciation Expense Dr. 950     Accumulated Depreciation 950 Account Names Unadjusted Trial Balance Adjustments Adjusted Trial Balance Debit Credit Debit Credit Debit Credit Cash 23,075 23,075 Accounts Receivable 3,812 3,812 Office Supplies 7,500 2900 4600 Prepaid rent 24,500 3,500 21,000 Equipment 27500 27500 Accumulated Depreciation 0 950 950 Accounts payable 9000 9,000 Ruby, capital 41837 41,837 Ruby, Drawings 4000 4000 Fees income 48550 48550 Depreciation-Equipment 0 950 950 Rent Expense 0 3500 3,500 Salaries expene 8,500 8,500 Supplies expense 0 2900 2,900 Utilities expense 500 500 Total 99,387 99387 7,350 7,350 100,337 100,337

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