October 31, 2022DebitCreditCash$15,540Supplies2,570Prepaid Insurance690Equipment4,690Notes Payable$4,690Accounts Payable2,760Unearmed Service Revenue1,410Common Stock10,200Retained EarningsDividends580Service Revenue10,100Salaries and Wages Expense4,000Rent Expense1,090$29,160$29,160Assume 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 ExplanationDebitCredit1.Oct. 312.Oct. 313.Oct. 314.Oct. 315.Oct. 316.Oct. 317.Oct. 31

Adjusting entries are prepared at the end of the accounting period in order to ensure the accrual…

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 Uneamed 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. Depreciation for the month is $55. As of October 31, services vworth $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 $30o. 2. 3. 4. 5. Interest expense accrued at October 31 is $80. Accrued salaries at October 31 are $1,610. 6. 7.

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 Uneamed 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. Depreciation for the month is $55. As of October 31, services vworth $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 $30o. 2. 3. 4. 5. Interest expense accrued at October 31 is $80. Accrued salaries at October 31 are $1,610. 6. 7.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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