Question

1. Supplies on hand are valued at $1,760.

2. Accrued salaries payable are $550.
3. Depreciation for the month is $275.
4. $715 of services related to the unearned service revenue has not been performed by month-end.
Journalize the adjusting entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Answer 1

Dr Supplies Expense $1,760

Cr Supplies $1,760

Dr Salaries and Wages Expense $550

Cr Salaries and Wages Payable $550

Dr Depreciation Expense $275

Cr Accumulated Depreciation Equipment $275

Dr Unearned Service Revenue $715

Cr Service Revenue $715

Step-by-step explanation:

Preparation of the adjusting entries.

Dr Supplies Expense $1,760

Cr Supplies $1,760

Dr Salaries and Wages Expense $550

Cr Salaries and Wages Payable $550

Dr Depreciation Expense $275

Cr Accumulated Depreciation Equipment $275

Dr Unearned Service Revenue $715

Cr Service Revenue $715