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The accounting records of Calbert Architects include the following​ selected, unadjusted balances a March 31: Accounts​Receivable,1,300...

The accounting records of Calbert Architects include the following​ selected, unadjusted balances a March 31: Accounts​Receivable,1,300 Office​ Supplies, 1,100​; Prepaid​ Rent, 1,700​; ​Equipment, $10,000​; Accumulated Depreciationlong dash—​Equipment, $0, Salaries​ Payable, $0; Unearned​ Revenue, $ 600 Service​ Revenue, 4,500​; Salaries​ Expense, $1,500​; Supplies​ Expense, $0; Rent​ Expense, $0; Depreciation Expenselong dash—​Equipment, ​$0.

c. Office Supplies on​ hand, $600. ​(Assume that Calbert debits an asset account when supplies are​ purchased.)

1.

Journalize the adjusting entries using the letter and March 31 date in the date column.

2.

Post the adjustments to the​ T-accounts opened for​ you, entering each adjustment by letter. Show each​ account's adjusted balance.

a.

 Service revenue​ accrued,

$ 400

b.

 Unearned revenue that has been​ earned,

$ 200

c.

 Office Supplies on​ hand,

$ 600

d.

 Salaries owed to​ employees,

$ 500

e.

 One month of prepaid rent has​ expired,

$ 850

f.

 Depreciation on​ equipment,

$ 150

Solutions

Expert Solution

Adjusting Journal entries Posting adjustments to T-Accounts
Date Account Titles Debit Credit Accounts Receivable Office Supplies
a.March 31 Accounts Receivable $400.00 Bal. $1,300.00 Bal. $1,100.00 $500.00 c
Service Revenue $400.00 a $400.00
b.March 31 Unearned Revenue $200.00 Adj.Bal. $1,700.00 Adj.Bal. $600.00
Service Revenue $200.00
Prepaid Rent Equipment
c.March 31 Supplies Expense $500.00 Bal. $1,700.00 $850.00 e Bal. $10,000.00
Office Supplies $500.00
d.March 31 Salaries Expense $500.00 Adj.Bal. $850.00 Adj.Bal. $10,000.00
Salaries Payable $500.00
Accumulated Depreciation - Equipment Salaries Payable
e.March 31 Rent Expense $850.00 $0.00 Bal. $0.00 Bal.
Prepaid Rent $850.00 $150.00 f $500.00 d
f.March 31 Depreciation Expense - Equipment $150.00 $150.00 Adj.Bal. $500.00 Adj.Bal.
Accumulated Depreciation - Equipment $150.00
Unearned Revenue Service Revenue
b $200.00 $600.00 Bal. $4,500.00 Bal.
$400.00 a
$200.00 b
$400.00 Adj.Bal. $5,100.00 Adj.Bal.
Salaries Expense Supplies Expense
Bal. $1,500.00 Bal. $0.00
d $500.00 c $500.00
Adj.Bal. $2,000.00 Adj.Bal. $500.00
Rent Expense Depreciation Expense - Equipment
Bal. $0.00 Bal. $0.00
e $850.00 f $150.00
Adj.Bal. $850.00 Adj.Bal. $150.00

ekkarill92 answered 5 months ago
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