Help Seve & Exit Check mm A. To record this period\'s depreciation expense B. To
ID: 2338983 • Letter: H
Question
Help Seve & Exit Check mm A. To record this period's depreciation expense B. To record accrued salaries expense C. To record this period's use of a prepaid expense D. To record accrued interest revenue E. To record accrued interest expense F. To record the eaning of previously unearned income Interest Expense 2.208 interest Payable 2,208 eBook Insurance Expense 3,180 Prepaid Insurance 3,180 Prit Uneamed Professional Fees 19,250 Professional Fees Earned 19,250 Roferences Interest Receivable 3 300 Interest Revenue 3,300 Depreciation Expense 38 217 Accumulated Depreciation 38,217 Salaries Expense 13,280 Salaries Payable 13 280Explanation / Answer
Transaction
Genera Journal
Debit
Credit
a
Depreciation Expense-Equipment
$ 12,000.00
Accumulated Depreciation-Equipment
$ 12,000.00
(Depreciation on Equipment Recorded)
b
Insurance Expense
$ 4,980.00*
Prepaid Insurance
$ 4,980.00
(insurance expenses recorded)
c
Supplies Expense
$ 2,583.00**
Supplies
$ 2,583.00
(Supplies consumed during the year)
d
Unearned Revenue
$ 2,750.00
Service Revenue
$ 2,750.00
(1/4th of 11000 earned recorded as income)
e
Insurance Expense
$ 4,180.00
Prepaid Insurance
$ 4,180.00
(insurance expenses recorded)
f
Wages Expense
$ 5,000.00
Wages Payable
$ 5,000.00
(Wages Expense recorded)
*$6000-1020
**($540+$2680)-$637 is recoded as expense
Transaction
Genera Journal
Debit
Credit
a
Depreciation Expense-Equipment
$ 12,000.00
Accumulated Depreciation-Equipment
$ 12,000.00
(Depreciation on Equipment Recorded)
b
Insurance Expense
$ 4,980.00*
Prepaid Insurance
$ 4,980.00
(insurance expenses recorded)
c
Supplies Expense
$ 2,583.00**
Supplies
$ 2,583.00
(Supplies consumed during the year)
d
Unearned Revenue
$ 2,750.00
Service Revenue
$ 2,750.00
(1/4th of 11000 earned recorded as income)
e
Insurance Expense
$ 4,180.00
Prepaid Insurance
$ 4,180.00
(insurance expenses recorded)
f
Wages Expense
$ 5,000.00
Wages Payable
$ 5,000.00
(Wages Expense recorded)