The data developed for the March 31 adjusting entries are as follows:i (Click the icon to view the data.)The accounting records of Calvin Architects include the following selected, unadjusted balances at March 31: Accounts Receivable, $1,200; OfficeSupplies, $600; Prepaid Rent, $800; Equipment, $7,000; Accumulated Depreciation-Equipment, $0, Salaries Payable, $0; Unearned Revenue, $900;Service Revenue, $4,600; Salaries Expense, $1,100; Supplies Expense, $0; Rent Expense, $0; Depreciation Expense-Equipment, $0. (Assume allbalances are normal balances.)More Info quirements.C...Requirement 1. Journalize the adjusting entries using the letter and March 31 date in the date column. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)a. Service revenue accrued, $600.Accounts and ExplanationDebitCreditXDate(a) Mar. 31More infoa. Service revenue accrued, $600.b. Unearned revenue that has been earned, $500.c. Office Supplies on hand, $100.d. Salaries owed to employees, $200.e. One month of prepaid rent has expired, $400.f. Depreciation on equipment, $105.PrintDone

Adjusting entries: Adjusting entries are those journal entries that are passed at the end of the…

The accounting records of Calvin Architects include the following selected, unadjusted balances at March 31: Accounts Receivable, $1,200; Office Supplies, $600; Prepaid Rent, $800; Equipment, $7,000; Accumulated Depreciation-Equipment, $0, Salaries Payable, $0; Unearned Revenue, $900; The data developed for the March 31 adjusting entries are as follows: (Click the icon to view the data.) Service Revenue, $4,600; Salaries Expense, $1,100; Supplies Expense, $0; Rent Expense, $0; Depreciation Expense-Equipment, $0. (Assume all balances are normal balances.) More Info Requirements. Requirement 1. Journalize the adjusting entries using the letter and March 31 date in the date column. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. Service revenue accrued, $600. Date Accounts and Explanation Debit Credit X (a) Mar. 31 More info a. Service revenue accrued, $600. b. Unearned revenue that has been earned, $500. c. Office Supplies on hand, $100. d. Salaries owed to employees, $200. e. One month of prepaid rent has expired, $400. f. Depreciation on equipment, $105. Print Done

The accounting records of Calvin Architects include the following selected, unadjusted balances at March 31: Accounts Receivable, $1,200; Office Supplies, $600; Prepaid Rent, $800; Equipment, $7,000; Accumulated Depreciation-Equipment, $0, Salaries Payable, $0; Unearned Revenue, $900; The data developed for the March 31 adjusting entries are as follows: (Click the icon to view the data.) Service Revenue, $4,600; Salaries Expense, $1,100; Supplies Expense, $0; Rent Expense, $0; Depreciation Expense-Equipment, $0. (Assume all balances are normal balances.) More Info Requirements. Requirement 1. Journalize the adjusting entries using the letter and March 31 date in the date column. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. Service revenue accrued, $600. Date Accounts and Explanation Debit Credit X (a) Mar. 31 More info a. Service revenue accrued, $600. b. Unearned revenue that has been earned, $500. c. Office Supplies on hand, $100. d. Salaries owed to employees, $200. e. One month of prepaid rent has expired, $400. f. Depreciation on equipment, $105. Print Done

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter12: Financial Statements, Closing Entries, And Reversing Entries

Section: Chapter Questions

Problem 4PA: The following accounts appear in the ledger of Celso and Company as of June 30, the end of this...

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The following accounts appear in the ledger of Celso and Company as of June 30, the end of this fiscal year. The data needed for the adjustments on June 30 are as follows: ab.Merchandise inventory, June 30, 54,600. c.Insurance expired for the year, 475. d.Depreciation for the year, 4,380. e.Accrued wages on June 30, 1,492. f.Supplies on hand at the end of the year, 100. Required 1. Prepare a work sheet for the fiscal year ended June 30. Ignore this step if using CLGL. 2. Prepare an income statement. 3. Prepare a statement of owners equity. No additional investments were made during the year. 4. Prepare a balance sheet. 5. Journalize the adjusting entries. 6. Journalize the closing entries. 7. Journalize the reversing entry as of July 1, for the wages that were accrued in the June adjusting entry. Check Figure Net income, 14,066
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