In the blank space beside each adjusting entry, enter the letter of the explanation A through F that
most closely describes the entry:
A. To record this period’s depreciation expense.
B. To record accrued salaries expense.
C. To record this period’s use of a prepaid
expense.
EXERCISES
Exercise 3-1
Classifying adjusting entries
C3
D. To record accrued interest revenue.
E. To record accrued interest expense.
F. To record the earning of previously unearned
income.
Homework Manager repeats all numerical Exercises on the book’s Website with new numbers
each time they are worked. It can be used in practice, homework, or exam mode.
______ 1. Salaries Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,280
Salaries Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,280
______ 2. Interest Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,208
Interest Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,208
______ 3. Insurance Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,180
Prepaid Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,180
______ 4. Unearned Professional Fees . . . . . . . . . . . . . . . . . . . . . 19,250
Professional Fees Earned . . . . . . . . . . . . . . . . . . . . . . 19,250
______ 5. Interest Receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,300
Interest Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,300
______ 6. Depreciation Expense . . . . . . . . . . . . . . . . . . . . . . . . . . 38,217
Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . 38,217
2007-09-24
10:18:37
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4 answers
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asked by
prissy
1