Description
Accounting.
From Horngren’s Accounting, The Financial Chapters
Complete the following exercises and problems in Excel:
- P3-35A
- P4-27A
Explanation & Answer
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Date
Dec 31.
Arlington Air Purification System
Journal of Accounts
December 31, 2014
Accounts and Explanations
Unearned Revenue
Debit
1.100
Service Revenue
To record service revenue earned that was collected in advance
Dec 31.
Rent Expense
1.200
Prepaid Rent
To record amount or prepaid rent used
Dec 31.
Supplies Expense
600
Office Supplies
To record office supplies used
Dec 31.
Depreciation Expense - Equipment
900
Accumulated Depreciation - Equipment
To record depreciation of equipment in to expense
Dec 31.
Advertising Expense
900
Accounts Payable
To record advertising expense to be paid in January
Dec 31.
Salary Expense
900
Salaries Payable
To record salaries expense accured
Dec 31.
Accounts Recievable
Service Revenue
To record account for service performed on account
2.400
Credit
1.100
1.200
Cash
7.700
7.700
Bal.
Accounts Recievable
19.200
Dec. 31
2.400
Adj. Bal. 21.600
Accounts Payable
Unearned Revenue
Dec. 31
1.100
Salaries Payable
600
Adj. Bal.
Prepaid Rent
2.400 1.200 Dec. 31
1.200
900
900
Office Supplies
1.300
600 Dec. 31
Adj. Bal.
700
900
Bal.
2.400
Equipment
19.900
19.900
Accumulated Depreciation Equipment
4.300
900 Dec. 31
5.200 Adj. Bal.
Accounts Payab...
