Prepare adjusting journal entries, as needed, considering the account balances excerpted from the unadjusted trial balance and the adjustment data. Excerpt from Unadjusted Trial Balance. Debits: Property Plant and Equipment 320,000; Prepaid Insurance 24,000; Supplies 7,500. Credits: Accumulated Depreciation 89,500; Unearned Service Revenue 3,000. supplies actual count at year end, $6,500 remaining unexpired insurance, $6,000 remaining unearned service revenue, $1,200 salaries owed to employees, $2,400 depreciation on property plant and equipment, $18,000

Prepare adjusting journal entries, as needed, considering the account balances excerpted from the unadjusted trial balance and the adjustment data. Excerpt from Unadjusted Trial Balance. Debits: Property Plant and Equipment 320,000; Prepaid Insurance 24,000; Supplies 7,500. Credits: Accumulated Depreciation 89,500; Unearned Service Revenue 3,000. supplies actual count at year end, $6,500 remaining unexpired insurance, $6,000 remaining unearned service revenue, $1,200 salaries owed to employees, $2,400 depreciation on property plant and equipment, $18,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 13PA: Prepare adjusting journal entries, as needed, considering the account balances excerpted from the...

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