Question

Adjusting Entries Journalize the adjusting entry needed at December 31 for each situation. Record debits first, then credits. Check your spelling carefully and do not abbreviate. Use account names exactly as given in the Chart of Accounts. Accrued Salaries Expense of $2,300. Accrued Salaries Expense of $2,300. Date Accounts Debit Credit Dec. 31 correct correct correct correct correct correct correct Depreciation in the amount of $200 was recorded on the furniture. Depreciation in the amount of $200 was recorded on the furniture. Date Accounts Debit Credit Dec. 31 correct incorrect correct correct correct correct correct Prepaid Insurance for the month expired. Remember, a four month insurance policy of $1,800 was paid for on December 1. Prepaid Insurance for the month expired. Remember, a four month insurance policy of $1,800 was paid for on December 1. Date Accounts Debit Credit Dec. 31 correct correct correct correct correct correct correct Office Supplies used during the month, $80.

Answer 1

Answer:

Date       Accounts Titles                Debit         Credit

Dec-31    Salaries expense              $2,300  

                     Salaries payable                         $2,300

Dec-31    Depreciation expense     $200

               (Furniture )

                      Accumulated depreciation        $200

                       (Furniture)

Dec-31    Insurance expense          $450

                       Prepaid Insurance                   $450

Dec-31    Supplies expense             $80

                        Supplies                                   $80