ADJUSTING ENTRIES INSTRUCTIONS Indicate the accounts to be d

ADJUSTING ENTRIES INSTRUCTIONS: Indicate the accounts to be debited and credited in recording the selected transactions described below by typing the letter for the account designations that are listed below for each transaction description. Please type each of the transactions described below and the appropriate letter for the account designations that should be debited and credited in the space that is provided below for your answer. A. Accounts Receivable B. Accumulated Depreciation C. Advertising Expense D. Depreciation Expense E. Equipment F. Fees Earned G. Land H. Prepaid Advertising I. Prepaid Rent J. Rent Expense K. Rent Revenue L. Salaries Expense M. Salaries Payable N. Supplies O. Supplies Expense P. Taxes Expense Q. Taxes Payable R. Unearned Fees Debit Credit 0. Adjust for rent accrued at the end of the perlod on property rented to others 1-2. Adjust for the cost of supplies used during the period Adjust for salaries accrued at the end of the period 3-4. 5-6. Adjust for depreciation of equipment for the period Adjust for the rent expired for the period 7-8. 9-10. Adjust for prepaid advertising expired during the period 11-12. Adjust for taxes accrued at the end of the period 13-14. Adjust for fees collected in advance and now earned.......... T T T Arial 3 (12pt)

Solution

Effect :

	Description	Debit	credit
1-2	Adjust for the cost of supplies used during the year	O	N
3-4	Adjust for salaries accured at the end of the period	L	M
5-6	Adjust for depreciation of equipment for the period	D	B
7-8	Adjust for the rent expired for the period	J	I
9-10	Adjust for prepaid advertising expired during the period	C	H
11-12	Adjust for taxes accured at the end of the period	P	Q
13-14	Adjust for fees collected in advance and now earned	R	F