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In: Accounting

The unadjusted trial balance of Drone Delivery at December​ 31, ​, appears below. The data needed...

The unadjusted trial balance of Drone Delivery at December​ 31, ​, appears below. The data needed for the​ month-end adjustments also appear below. Journalize the adjusting entries on December 31. a. Unearned delivery revenue still remaining to be earned at December​ 31, ​$880. b. Prepaid rent still available at December​ 31, $2800. c. Supplies used during the​ month, ​$490. d. Amortization on drones for the​ month, ​$680. e. Accrued utilities expense at December​ 31, $225​(Credit Accounts​ Payable.) f. Accrued salaries expense at December​ 31, ​$.1980

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DETAILS GIVEN IN QUESTION:

Month end adjustment details are given for passing adjustment journal entries.

ANSWER:

SR.NO.

PARTICULARS

L/F

DEBIT $

CREDIT $

a.

UNEARNED DELIVERY REVENUE A/C

880

         TO TRADE RECIEVABLE A/C

880

[Reversal of Unearned Delivery revenue as remained unearned]

b.

PREPAID RENT A/C

2,800

        TO RENT (EXPENSE) A/C

2,800

[Prepaid rent available]

c.

CONSUMPTION A/C

490

        TO INVENTORY A/C

490

[Supplies consumed during the month]

d.

AMORTIZATION / DEPRECIATION A/C

680

          TO DRONES (ASSET) A/C

680

[Amortization for the month]

e.

UTILITY EXPENSE A/C

225

          TO ACCOUNTS PAYABLE A/C

225

[Accrued utility expense]

f.

SALARY EXPENSE A/C

1,980

         TO SALARIES PAYABLE A/C

1,980

[Accrued Salary expense]

ekkarill92 answered 2 years ago
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