Joumalize the adjusting entry needed on December 31 for each

Joumalize the adjusting entry needed on December 31 for each situation Use the letters to label the journal entries. (Record debits first, th explanation on the last ine of the journal entry table) a. Depreciation for the current year includes Equipment, $2,800 Date Accounts and Explanation Debit Credit (a) Dec 31Depreciaon Expense-Equipment 2800 More Info a. Depreciation for the current year includes equipment, $2,800 b. Each Monday, Betterton pays employees for the previous week\'s work. The amount of weekly payrol is $1,40D for a seven-day workweek (Monday to Sunday) This year, December 31 falls on Thursday c. The beginning balance of Office Supples was $2,100. Dunng the year Betterton purchased office supplies for $3,400, and at December 31 the omce supplies on hand totaled $1,200 d. Betterton prepaid a two full years insurance on April 1 ot the current year, e. Betterton had earned $3,30D of unearned revenue t. Betterlon had incurred (but not recorded) $140 of nterest expense on a nofe g. Beterton biled customers $4,500 for welding services pertomed $6,980 Record insurance expense for the year ended December 31 Choose from any list or enter any numbe payable. The interest will not be paid unti February 28 partsg Che

Solution

Transactin General journal Debit Credit a depreciation expense- equipment 2800 accummulated depreciation equipment 2800 b salaries and wages expense 800 salaries and wages payable 800 c supplies expense 4300 office supplies 4300 d insurance expense 2610 prepaid insurance 2610 e unearned revenue 3300 service revenue 3300 f interest expense 140 interest payable 140 g accounts receivable 4500 service revenue 4500 Payroll a weekly payroll 1400 b= a/7 per day expense 200 c number of days accrual 4 d= b*c accrual amount 800 a Insurance premium paid         6,960 b Validity 2 years c=a/b Insurance expense per year         3,480 d=c/12 Insurance expense per month            290 e Number of months insurance expired                 9 f=d*e Insurance expense         2,610 office supplies opening balance 2100 purchases 3400 supplies available 5500 less: closing balance 1200 supplies expense 4300