Question

Problem 3-03A a, b1-b3, c (Video) (Part Level Submission)

Marigold Corp. was organized on July 1, 2020. Quarterly financial statements are prepared. The unadjusted and adjusted trial balances as of September 30 are shown as follows.

Marigold Corp. Trial Balance September 30, 2020
		Unadjusted				Adjusted
		Dr.		Cr.		Dr.		Cr.
Cash		$ 8,700				$ 8,700
Accounts Receivable		10,400				11,500
Supplies		1,450				600
Prepaid Rent		2,200				1,150
Equipment		18,700				18,700
Accumulated Depreciation—Equipment				$      0				$     700
Notes Payable				9,300				9,300
Accounts Payable				2,500				2,500
Salaries and Wages Payable				0				740
Interest Payable				0				93
Unearned Rent Revenue				1,900				1,100
Common Stock				21,600				21,600
Dividends		1,600				1,600
Service Revenue				17,760				18,860
Rent Revenue				1,360				2,160
Salaries and Wages Expense		7,900				8,640
Rent Expense		1,950				3,000
Depreciation Expense						700
Supplies Expense						850
Utilities Expense		1,520				1,520
Interest Expense						93
		$ 54,420		$ 54,420		$ 57,053		$ 57,053

A)Journalize the adjusting entries that were made. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

(a)

Journalize the adjusting entries that were made. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Sept. 30
	(To record accrued revenue.)
Sept. 30
	(To record prepaid rent.)
Sept. 30
	(To record supplies used.)
Sept. 30
	(To record depreciation.)
Sept. 30
	(To record interest.)
Sept. 30
	(To record unearned rent revenue.)
Sept. 30
	(To record accrued salaries.)

Answer 1

(a)

Journalize the adjusting entries that were made. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Sept. 30	Account receivable (11400-10500)	900
	Service revenue		900
	(To record accrued revenue.)
Sept. 30	Rent expense (2200-1150)	1050
	Prepaid rent		1050
	(To record prepaid rent.)
Sept. 30	Supplies expense (1450-600)	850
	Supplies		850
	(To record supplies used.)
Sept. 30	Depreciation expense	700
	Accumulated depreciation-equipment		700
	(To record depreciation.)
Sept. 30	Interest expense	93
	Interest payable		93
	(To record interest.)
Sept. 30	Unearned rent revenue	800
	Rent revenue		800
	(To record unearned rent revenue.)
Sept. 30	Salaries and wages expense	740
	Salaries and wages payable		740
	(To record accrued salaries.)