Revenues Services revenue Commissions revenue Total revenues Expenses Depreciation expense-Computers Depreciation expense-Office furniture Salaries expense Insurance expense Rent expense Office supplies expense Advertising expense Utilities expense Total expenses Net income View transaction list Journal entry worksheet 1 2 Event a Income Statements For Year Ended December 31 Unadjusted Note: Enter debits before credits.. 3 Record entry Record the adjusting entry for accrued revenues. Analyze the statements and prepare the seven adjusting entries a. through g. that likely were recorded. Hint. T revenue that has been earned but not yet billed. No adjusting entry involves cash. 4 5 General Journal 6 Clear entry $ 24,000 42,500 $ 66,500 0 0 12,500 0 4,500 0 3,000 1,250 21,250 $ 45,250 7 Adjustments a. Debit b. C. d. e. f. Adjusted Credit $ 28,800 42,500 71,300 1,200 1,400 14,460 1,040 4,500 384 3,000 1,306 27,290 $ 44,010 View general journal

Revenues Services revenue Commissions revenue Total revenues Expenses Depreciation expense-Computers Depreciation expense-Office furniture Salaries expense Insurance expense Rent expense Office supplies expense Advertising expense Utilities expense Total expenses Net income View transaction list Journal entry worksheet 1 2 Event a Income Statements For Year Ended December 31 Unadjusted Note: Enter debits before credits.. 3 Record entry Record the adjusting entry for accrued revenues. Analyze the statements and prepare the seven adjusting entries a. through g. that likely were recorded. Hint. T revenue that has been earned but not yet billed. No adjusting entry involves cash. 4 5 General Journal 6 Clear entry $ 24,000 42,500 $ 66,500 0 0 12,500 0 4,500 0 3,000 1,250 21,250 $ 45,250 7 Adjustments a. Debit b. C. d. e. f. Adjusted Credit $ 28,800 42,500 71,300 1,200 1,400 14,460 1,040 4,500 384 3,000 1,306 27,290 $ 44,010 View general journal

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College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter16: Accounting For Accounts Receivable

Section: Chapter Questions

Problem 8SPB: UNCOLLECTIBLE ACCOUNTSALLOWANCE METHOD Lewis Warehouse used the allowance method to record the...

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DATE ACCOUNT TITLE FIVE COLUMN JOURNAL DOC. POST NO. REF. GENERAL DEBIT CREDIT SALES CREDIT DEBIT CASH age CREDIT