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BACT105 Business Accounting

   

Added on  2019-10-31

6 Pages366 Words151 Views
ACCOUNTING1ACCOUNTING

ACCOUNTING2Adjustment entries:AccountNo.Account NameDebitCredit690Interest expense16,400.00202Interest payable16,400.00(to record the interestexpense)680Supplies expense1,230.00115Supplies1,230.00(to record the suppliesexpense)

ACCOUNTING3650Insurance expense2,624.00120Prepaid insurance2,624.00(to record the insuranceexpense)615Depreciation expense8,000.00137Accumulated depreciation-office furniture8,000.00(to record the depreciationexpense)620Depreciation expense2,800.00141Accumulated depreciation-office equipment2,800.00(to record the depreciationexpense)625Depreciation expense900.00146Accumulated depreciation-store equipment900.00(to record the depreciationexpense)640Depreciation expense1,200.00171Accumulated depreciation-automobile1,200.00(to record the depreciationexpense)207Unearned revenue10,250.00401Revenue10,250.00(to record the servicerevenue)Closing entries:Closing entriesAccount NameDebitCreditRevenue1,74,250.00Income summary1,74,250.00

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