Answer:
a.Unearned revenue $1,550
Service revenue $1,550
b. Dr Insurance expense $6,060
Cr Prepaid insurance $6,060
c. Dr Salaries expense $2,100
Cr Salaries payable $2,100
d. Dr Interest expense $175
Cr Interest payable $175
e. Dr Supplies expense $3,000
Cr Supplies $3,000
Explanation:
Preparation to Record the necessary adjusting entries at December 31, 2018, for Wolverine Company.
a.Unearned revenue $1,550
Service revenue $1,550
($3,100/2)
(Being to record rent revenue)
b. Dr Insurance expense $6,060
Cr Prepaid insurance $6,060
($12,120*6/12)
(Being to record insurance expense l
c. Dr Salaries expense $2,100
Cr Salaries payable $2,100
(Being to record salaried expense)
d. Dr Interest expense $175
($10,500*10%*2/12)
Cr Interest payable $175
(Being to record Interest expense)
e. Dr Supplies expense $3,000
Cr Supplies $3,000
($910+$2,500-$410)
(Being to record Supplies expense)
