PLUS Kimmel Survey of Accounting e Practice the following ba

PLUS Kimmel, Survey of Accounting, e Practice the following balance sheet accounts. Identify the accounts that might require adjustment. For each account thet requires adjustment, indicate (3) the type of adjustment (b) Prepald Insurance. (c) Equipment. (a) Accumulated (e) Notes Payable. (n) Interest Payable. (9) Unearned Service Revenue. Click if you would like to Show Work for this question

Solution

Solution:

Account	Type of Adjustment	Related Account
(a) Accounts Receivable	Accrued Revenues	Service Revenue
(b) Prepaid Insurance	Prepaid Expenses	Insurance Expense
(c) Equipment	Not required	---------
(d) Accumulated depreciation- Equipment	Prepaid Expenses	Depreciation Expense
(e) Notes payable	Not required	----------
(f) Interest Payable	Accrued Expenses	Interest Expense
(g) Unearned Service Revenue	Unearned Revenues	Service Revenue