FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Wages due to employees of $8,000 need to be recorded at year end. These wages will be paid to employees on January 9, 2019 (next month). In Blank [1] enter the account to be debited. In Blank [2] enter the amount to be debited. In Blank [3] enter the account to be credited. In Blank [4] enter the amount to be credited.
Dr. [1]_______________ [2]$_____________
Cr. [3]________________ [4]$____________
The company has completed $12,900 of the amount in unearned revenue as of Dec. 31st. In Blank [2] enter the amount to be debited. In Blank [1] enter the account to be debited. In Blank [3] enter the account to be credited. In Blank [4] enter the amount to be credited.
Dr. [1]_______________ [2]$_____________
Cr. [3]________________ [4]$____________
In December the company provided services worth $8,000 to clients that were not yet billed or recorded by Dec. 31. Record the additional revenue. In Blank [1] enter the account to be debited. In Blank [2] enter the amount to be debited. In Blank [3] enter the account to be credited. In Blank [4] enter the amount to be credited.
Dr. [1]_______________ [2]$_____________
Cr. [3]________________ [4]$____________
On Dec 31st the company completed a physical count of their supplies and determined that only $4,000 of supplies are still on hand. In Blank [1] enter the account to be debited. In Blank [2] enter the amount to be debited. In Blank [3] enter the account to be credited. In Blank [4] enter the amount to be credited.
Dr. [1]_______________ [2]$_____________
Cr. [3]________________ [4]$____________
What is the ending balance in the Prepaid Insurance account?
What is the ending balance in the Service Revenue account?
What is the total amount of credits in the Adjusted Trial Balance ?
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