College Accounting (Book Only): A Career Approach
12th Edition
ISBN: 9781305084087
Author: Cathy J. Scott
Publisher: Cengage Learning
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Textbook Question
Chapter 4, Problem 4E
A partial work sheet for Marge’s Place is shown below. Prepare the following adjustments on this work sheet for the month ended June 30, 20–.
- a. Expired or used-up insurance, $450.
- b. Depreciation expense on equipment, $750.
- c. Wages accrued or earned since the last payday, $380 (owed and to be paid on the next payday).
- d. Supplies used, $110.
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A partial work sheet for Marge's Place is shown below.
Prepare the following adjustments on this work sheet for the month ended June 30, 20--.
Expired or used-up insurance, $450.
Depreciation expense on equipment, $750 (Remember to credit the Accumulated Depreciation account for equipment, not Equipment).
Wages accrued or earned since the last payday, $380 (owed and to be paid on the next payday).
Supplies used, $110.
If no amount is required, enter 0.
Marge's Place
Work Sheet
For Month Ended June 30, 20--
TRIAL BALANCE
ADJUSTMENTS
ACCOUNT NAME
DEBIT
CREDIT
DEBIT
CREDIT
1
Cash
4,370
fill in the blank 1
fill in the blank 2
1
2
Supplies
250
fill in the blank 3
fill in the blank 4
2
3
Prepaid Insurance
1,800
fill in the blank 5
fill in the blank 6
3
4
Equipment
4,880
fill in the blank 7
fill in the blank 8
4
5
Accumulated Depreciation, Equipment
1,350
fill in the blank 9
fill in the blank 10
5
6
Accounts Payable…
A partial work sheet for Marge's Place is shown below.
Prepare the following adjustments on this work sheet for the month ended June 30, 20--.
Expired or used-up insurance, $570.
Depreciation expense on equipment, $720 (Remember to credit the Accumulated Depreciation account for equipment, not Equipment).
Wages accrued or earned since the last payday, $1,410 (owed and to be paid on the next payday).
Supplies used, $110.
If no amount is required, enter 0.
Marge's Place
Work Sheet
For Month Ended June 30, 20--
TRIAL BALANCE
ADJUSTMENTS
ACCOUNT NAME
DEBIT
CREDIT
DEBIT
CREDIT
1
Cash
4,577
1
2
Supplies
250
2
3
Prepaid Insurance
1,800
3
4
Equipment
4,880
4
5
Accumulated Depreciation, Equipment
1,350
5
6
Accounts Payable
2,539
6
7
M. Benson, Capital
4,751
7
8
M. Benson, Drawing
2,000
8
9
Income from Services
6,937
9
10
Rent Expense
1,086
10
11
Supplies Expense…
Prepare a single journal entry to record all the incurred costs assuming they are paid in cash on January 1.
Chapter 4 Solutions
College Accounting (Book Only): A Career Approach
Ch. 4 - The __________ represents the sequence of steps in...Ch. 4 - The __________ is a working paper used by...Ch. 4 - On the work sheet, assets are recorded in which of...Ch. 4 - Rainy Day Services had 430 of supplies reported on...Ch. 4 - On the work sheet, Accumulated Depreciation,...Ch. 4 - The __________ requires that expenses be matched...Ch. 4 - Accumulated Depreciation, Equipment is reported a....Ch. 4 - What is the purpose of a work sheet?Ch. 4 - What is the purpose of adjusting entries?Ch. 4 - Prob. 3DQ
Ch. 4 - Prob. 4DQCh. 4 - Prob. 5DQCh. 4 - Define depreciation as it relates to a van you...Ch. 4 - Prob. 7DQCh. 4 - Why is it necessary to journalize and post...Ch. 4 - 1. List the following classifications of accounts...Ch. 4 - Classify each of the accounts listed below as...Ch. 4 - Place a check mark next to any account(s)...Ch. 4 - A partial work sheet for Marges Place is shown...Ch. 4 - Complete the work sheet for Ramey Company, dated...Ch. 4 - Journalize the adjusting entries from the partial...Ch. 4 - Journalize the adjustments for Newkirk Company as...Ch. 4 - Journalize the following adjusting entries that...Ch. 4 - Determine on which financial statement each...Ch. 4 - Prob. 1PACh. 4 - The trial balance of Clayton Cleaners for the...Ch. 4 - The trial balance for Game Time on July 31 is as...Ch. 4 - The trial balance for Benner Hair Salon on March...Ch. 4 - The trial balance for Masons Insurance Agency as...Ch. 4 - The trial balance of The New Decors for the month...Ch. 4 - The trial balance for Harris Pitch and Putt on...Ch. 4 - The trial balance for Wilson Financial Services on...Ch. 4 - Prob. 1ACh. 4 - You are the bookkeeper for a small but thriving...Ch. 4 - Prob. 3ACh. 4 - Your client is preparing financial statements to...Ch. 4 - Prob. 1CP
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