Prepare year-end adjusting entries for the following transactions. Omit explanation.

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 13PA: Prepare adjusting journal entries, as needed, considering the account balances excerpted from the...
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Prepare year-end adjusting entries for the following transactions. Omit explanation.
1. Interest on notes payable $85 is accrued.
2. Ohearned revenues were 2,500 at the beginning of the vear and during the year the revenues earned total was
$1,000
0 ce years' rent totaling $36,000 was paid in advance at the beginning of the year. At the end of the year,
$24,000 rent remained unexpired/unused.
4. Depreciation on equipment totaled $4,500 for the current accounting period.
3. Supplies purchased at the beginning of the year for use totaled $690. By the year end, only$100 in supplies
remained unused.
6. Salaries Payable to employees at the end of the year totaled $1,000.
Prepare adjusting entries (Not the T-Account)
Debit
credit 0
Account Titles
1.
earnings
Transcribed Image Text:Prepare year-end adjusting entries for the following transactions. Omit explanation. 1. Interest on notes payable $85 is accrued. 2. Ohearned revenues were 2,500 at the beginning of the vear and during the year the revenues earned total was $1,000 0 ce years' rent totaling $36,000 was paid in advance at the beginning of the year. At the end of the year, $24,000 rent remained unexpired/unused. 4. Depreciation on equipment totaled $4,500 for the current accounting period. 3. Supplies purchased at the beginning of the year for use totaled $690. By the year end, only$100 in supplies remained unused. 6. Salaries Payable to employees at the end of the year totaled $1,000. Prepare adjusting entries (Not the T-Account) Debit credit 0 Account Titles 1. earnings
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