Adjusting entry: On 30 April 2020, Count-On-Us Pty Ltd purchased new office equipment for $20,000 to use in running the virtual conference event. The depreciation charge for the office equipment is $3,000 per year. Instructions: Record the adjusting entry for the year ending 30 June 2020 by selecting the correct accounts and amounts that are debited and credited.
Adjusting entry: On 30 April 2020, Count-On-Us Pty Ltd purchased new office equipment for $20,000 to use in running the virtual conference event. The depreciation charge for the office equipment is $3,000 per year. Instructions: Record the adjusting entry for the year ending 30 June 2020 by selecting the correct accounts and amounts that are debited and credited.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Instructions: Record the adjusting entry for the year ending 30 June 2020 by selecting the correct accounts and amounts that are debited and credited.
![General Journal
June
[ Select ]
[ Select ]
30.
[ Select ]
[ Select ]
>
>
>](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6d192b49-74d2-4abd-b32b-da2fce7850ab%2Fc8123871-6c3c-4da4-a32f-550239b6d0c2%2Fjrdr3ui_processed.png&w=3840&q=75)
Transcribed Image Text:General Journal
June
[ Select ]
[ Select ]
30.
[ Select ]
[ Select ]
>
>
>
![[ Select ]
Select account/amount
Cash
Accounts Receivable
Supplies
Prepaid Insurance
Prepaid Rent
Equipment
Accumulated Depreciation Equipment
Asset
Land
Accounts Payable
Wages Payable
Loan Payable
Contributed Capital
Retained Earnings
Repair Service Revenue
Expense
Depreciation Expense
Rent Expense
Wages Expense
Service revenue
$500
$750
$3,000
$12,000
$20,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6d192b49-74d2-4abd-b32b-da2fce7850ab%2Fc8123871-6c3c-4da4-a32f-550239b6d0c2%2F4ol5b4r_processed.jpeg&w=3840&q=75)
Transcribed Image Text:[ Select ]
Select account/amount
Cash
Accounts Receivable
Supplies
Prepaid Insurance
Prepaid Rent
Equipment
Accumulated Depreciation Equipment
Asset
Land
Accounts Payable
Wages Payable
Loan Payable
Contributed Capital
Retained Earnings
Repair Service Revenue
Expense
Depreciation Expense
Rent Expense
Wages Expense
Service revenue
$500
$750
$3,000
$12,000
$20,000
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