PA13. LO 4.3 Prepare adjusting journal entries, as needed, considering the account balances excerpted fromthe unadjusted trial balance and the adjustment data.Unadjusted Trial BalanceDebitCreditProperty plant and equipmentAccumulated depreciationPrepaid insuranceSupplies320,00089,50024,0007,500Unearned service revenue3,000A. supplies actual count at year end, $6,500B. remaining unexpired insurance, $6,000C. remaining unearned service revenue, $1,200D. salaries owed to employees, $2,400E. depreciation on property plant and equipment, $18,000

Adjusting journal entries are prepared at the end of reporting period in order to adhere with…

PA13. LO 4.3 Prepare adjusting journal entries, as needed, considering the account balances excerpted from the unadjusted trial balance and the adjustment data. Unadjusted Trial Balance Debit Credit Property plant and equipment Accumulated depreciation Prepaid insurance Supplies Unearned service revenue 320,000 89,500 24,000 7,500 3,000 A. supplies actual count at year end, $6,500 B. remaining unexpired insurance, $6,000 C. remaining unearned service revenue, $1,200 D. salaries owed to employees, $2,400 E. depreciation on property plant and equipment, $18,000

PA13. LO 4.3 Prepare adjusting journal entries, as needed, considering the account balances excerpted from the unadjusted trial balance and the adjustment data. Unadjusted Trial Balance Debit Credit Property plant and equipment Accumulated depreciation Prepaid insurance Supplies Unearned service revenue 320,000 89,500 24,000 7,500 3,000 A. supplies actual count at year end, $6,500 B. remaining unexpired insurance, $6,000 C. remaining unearned service revenue, $1,200 D. salaries owed to employees, $2,400 E. depreciation on property plant and equipment, $18,000

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter3: Basic Accounting Systems: Accrual Basis

Section: Chapter Questions

Problem 3.23E: Adjustment for depreciation The estimated amount of depredation on equipment for the current year is...

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