FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question: Journalize the required returns! Include excel formula in your answer
Before
After
Difference Reason
Adjustment Adjustment
Rp
Rp
Rp
150
Interest still has to be received
150 Interest earned but not received
Equipment
Prepaid Insurance
interest is paid in advance
Equipment load
Insurance Expense
1,240
510
730 Depreciation charged on equipment
640 Insurance expired
80 Prepaid interest
730 Depreciation charged on equipment
640 Insurance Expense
1,860
1,220
80
730
640
Interest income
400
550
150 Interest earned but not received
Interest Expense
360
280
80 Prepaid interest
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Transcribed Image Text:Before After Difference Reason Adjustment Adjustment Rp Rp Rp 150 Interest still has to be received 150 Interest earned but not received Equipment Prepaid Insurance interest is paid in advance Equipment load Insurance Expense 1,240 510 730 Depreciation charged on equipment 640 Insurance expired 80 Prepaid interest 730 Depreciation charged on equipment 640 Insurance Expense 1,860 1,220 80 730 640 Interest income 400 550 150 Interest earned but not received Interest Expense 360 280 80 Prepaid interest
Date
Particulars
L/F Debit(Rp) Credit(Rp)
1
Interest receivable
150
Interest income
150
(To record the adjustment of interest receivable)
2 Depreciation expense
730
Equipment load
730
|(To record the depreciation expense of equipment)
3 Insurance expense
640
Prepaid insurance
640
(To record the insurance expense)
4 Prepaid interest
80
Interest expense
|(To record the prepaid interest)
80
expand button
Transcribed Image Text:Date Particulars L/F Debit(Rp) Credit(Rp) 1 Interest receivable 150 Interest income 150 (To record the adjustment of interest receivable) 2 Depreciation expense 730 Equipment load 730 |(To record the depreciation expense of equipment) 3 Insurance expense 640 Prepaid insurance 640 (To record the insurance expense) 4 Prepaid interest 80 Interest expense |(To record the prepaid interest) 80
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