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Homework answers / question archive / Below are listed some of the accounts from a company’s September 30 trial balance

Below are listed some of the accounts from a company’s September 30 trial balance

Accounting

Below are listed some of the accounts from a company’s September 30 trial balance.

 

 

Debit

Credit

Supplies

$ 2,700

 

Prepaid Insurance

4,800

 

Equipment

16,200

 

Accumulated Depreciation—Equipment

 

$ 1,000

Unearned Rent Revenue

 

1,200

 

An analysis of the account balances by the company's accountant provided the following additional information:

Instructions: Using the information given, prepare the adjusting journal entries that should be made by the company on September 30.

 

  1. A physical count of office supplies revealed $1,000 on hand on September 30.

 

  1. A two-year life insurance policy was purchased on September 1 for $4,800.

 

  1. Office equipment depreciates $3,000 per year.

 

  1. The amount of rent received in advance that remains unearned at September 30 is $300.

 

 

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