Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / Adjusting Entries: Please tell me how this would be recorded on a General Journal. The fol...

Adjusting Entries: Please tell me how this would be recorded on a General Journal. The following categories are in this order Date, Description, Post Ref, Debit, Credit. a) Depreciation expense for t

Adjusting Entries: Please tell me how this would be recorded on a General Journal. The following categories are in this order Date, Description, Post Ref, Debit, Credit.

a) Depreciation expense for the month on the building is $2,000
b) A count of the Supplies account indicates that supplies of $450 have been used
c) Two months have passed since insurance for the year was paid. The amount of the check was $1,200. The entry at time of payment debited the Prepaid Insurance account
d) Employees have earned $400 since the last pay day
e) Advertising in the local paper was paid this month in the amount of $500. THe amount was debited to Prepaid Advertising and the advertisement is to run next month
f) Joe Moreland paid us $500 in advance for work to be done on his residence. The entry to record the collection of this cash included a credit to Labor Revenue. The work is halfway done.

 

Sep 05 2020 View more View Less

Answer (Solved)

question Subscribe To Get Solution

Related Questions