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Acc 300 Brief Exercise 4

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BRIEF EXERCISE 4-4

Dec. 31 Supplies Expense 7,700 Supplies 7,700

Supplies | | Supplies Expense | 8,800 | 12/31 7,700 | | 12/31 7,700 | | 12/31 Bal. 1,100 | | | | |

BRIEF EXERCISE 4-5

Dec. 31 Depreciation Expense 2,750 Accumulated Depreciation— Equipment 2,750

Depreciation Expense | | Accumulated Depreciation—Equipment | 12/31 2,750 | | | | 12/31 2,750 |

Balance Sheet: Equipment $22,000 Less: Accumulated Depreciation—Equipment 2,750 $19,250

BRIEF EXERCISE 4-6

July 1 Prepaid Insurance 12,400 Cash 12,400 Dec. 31 Insurance Expense ($12,400 X 6/24) 3,100 Prepaid Insurance 3,100

Prepaid Insurance | | Insurance Expense | 7/1 12,400 | 12/31 3,100 | | 12/31 3,100 | | 12/31 Bal. 9,300 | | | | |

BRIEF EXERCISE 4-7

July 1 Cash 12,400 Unearned Service Revenue 12,400 Dec. 31 Unearned Service Revenue 3,100 Service Revenue ($12,400 X 6/24) 3,100

Unearned Service Revenue | | Service Revenue | 12/31 3,100 | 7/1 12,400 | | | 12/31 3,100 | | 12/31 Bal. 9,300 | | | |

BRIEF EXERCISE 4-8

(a) Dec. 31 Interest Expense 300 Interest Payable 300 (b) 31 Accounts Receivable 1,700 Service Revenue 1,700 (c) 31 Salaries and Wages Expense 780 Salaries and Wages Payable 780

BRIEF EXERCISE 4-9

| | Account | | (1)Type of Adjustment | | (2)Related Account | | | | | | | | (a) | | Accounts Receivable | | Accrued Revenues | | Service Revenue | | | | | | | | (b) | | Prepaid Insurance | | Prepaid Expenses | | Insurance Expense | | | | | | | | (c) | | Equipment | | Not

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