FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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October 31, 2022
Debit
Credit
Cash
$15,540
Supplies
2,570
Prepaid Insurance
690
Equipment
4,690
Notes Payable
$4,690
Accounts Payable
2,760
Unearmed Service Revenue
1,410
Common Stock
10,200
Retained Earnings
Dividends
580
Service Revenue
10,100
Salaries and Wages Expense
4,000
Rent Expense
1,090
$29,160
$29,160
Assume the following adjustment data.
1. Supplies on hand at October 31 total $560.
Expired insurance for the month is $115.
3. Depreciation for the month is $55.
2.
As of October 31, services worth $870 related to the previously recorded unearned revenue had been performed.
Services performed but unbilled (and no receivable has been recorded) at October 31 are $300.
Interest expense accrued at October 31 is $80.
Accrued salaries at October 31 are $1,610.
4.
5.
6.
7.
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Transcribed Image Text:October 31, 2022 Debit Credit Cash $15,540 Supplies 2,570 Prepaid Insurance 690 Equipment 4,690 Notes Payable $4,690 Accounts Payable 2,760 Unearmed Service Revenue 1,410 Common Stock 10,200 Retained Earnings Dividends 580 Service Revenue 10,100 Salaries and Wages Expense 4,000 Rent Expense 1,090 $29,160 $29,160 Assume the following adjustment data. 1. Supplies on hand at October 31 total $560. Expired insurance for the month is $115. 3. Depreciation for the month is $55. 2. As of October 31, services worth $870 related to the previously recorded unearned revenue had been performed. Services performed but unbilled (and no receivable has been recorded) at October 31 are $300. Interest expense accrued at October 31 is $80. Accrued salaries at October 31 are $1,610. 4. 5. 6. 7.
No. Date Account Titles and Explanation
Debit
Credit
1.
Oct. 31
2.
Oct. 31
3.
Oct. 31
4.
Oct. 31
5.
Oct. 31
6.
Oct. 31
7.
Oct. 31
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Transcribed Image Text:No. Date Account Titles and Explanation Debit Credit 1. Oct. 31 2. Oct. 31 3. Oct. 31 4. Oct. 31 5. Oct. 31 6. Oct. 31 7. Oct. 31
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