Slater Photography account balances at 12/31, 20x4, before recording adjusting entries:
cash $26,667 debit
prepaid insurance $450 debit
film on hand $250 debit
cameras $20,000 debit
accumulated depreciation - cameras $3,667 credit
accounts payable $7000 credit
unearned revenue $5,700 credit
note payable $3000 credit
capital stock $1000 credit
retained earnings $5800 credit
dividends $1200 debit
revenue $28000 credit
utilities expense $3200 debit
salaries expense $2400 debit
insurance policy is dated 12/1; the monthly insurance is $50.
film on hand on 12/31, 20x4, was $180
cameras were purchased on 1/1; 20x4. with an estimated life of 5 years.
the balance in unearned revenue is $2000.
interest owed by not paid on the note was $30.
salaries owed but not paid at 12/31 were $2000.
2007-10-07
07:07:53
·
2 answers
·
asked by
Cindy S
1
in
Business & Finance
➔ Personal Finance