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Adjusting the Process of Journal in Prepaird the Rent,Depriciation on Furniture,and Accrued Service Revenue.
Typology: Exercises
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Please journalize the following adjustments of Air & Sea Travel, Inc., at April 30 and post them to the ledger:
(a) Prepaid rent expired, $1.000.
(b) Supplies used, $300.
(c) Depreciation on furniture, $275.
(d) Accrued salary expense, $950.
(e) Accrued service revenue, $250.
(f) Amount of unearned service revenue that has been earned, $150.
(g) Accrued income tax expense, $540.
Information for Adjustments at April 30, 20X
(h) Prepaid rent expired, $1.000.
(i) Supplies used, $300.
(j) Depreciation on furniture, $275.
(k) Accrued salary expense, $950.
(l) Accrued service revenue, $250.
(m) Amount of unearned service revenue that has been earned, $150.
(n) Accrued income tax expense, $540.
Adjusting Entries
(a) Rent Expense ......................................... 1. Prepaid rent ....................................... 1. To record rent expense. (b) Supplies Expense .................................... 300 Supplies ............................................... 300 To record supplies used. (c) Depreciation Expense – Furniture ....... 275 Accumulated Depreciation – Furniture 275 To record depreciation on furniture. (d) Salary Expense ......................................... 950 Salary Payable ..................................... 950 To accrue salary expense. (e) Accounts Receivable ................................ 250 Service Revenue .................................. 250 To accrue service revenue. (f) Unearned Service Revenue ...................... 150 Service Revenue ................................... 150 To record unearned service revenue that has been earned. (g) Income Tax Expense ................................. 540 Income Tax Payable ............................. 540 To accrue income tax expense.
