Question

The unadjusted trial balance and adjustment data of Myla’s Motors at December 31, 2014, follow:


Adjusting data at December 31, 2014:
a. Depreciation on equipment, $ 1,100.
b. Accrued Wages Expense, $ 600.
c. Office Supplies on hand, $ 200.
d. Prepaid Insurance expired during December, $ 200.
e. Unearned Revenue earned during December, $ 4,000.
f. Accrued Service Revenue, $ 800.
2015 transactions:
a. On January 4, Myla’s Motors paid wages of $ 1,000. Of this, $ 600 related to the accrued wages recorded on December 31.
b. On January 10, Myla’s Motors received $ 1,000 for Service Revenue. Of this, $ 800 is related to the accrued Service Revenue recorded on December 31.

Requirements
1. Journalize adjusting journal entries.
2. Journalize reversing entries for the appropriate adjusting entries.
3. Refer to the 2015 data. Journalize the cash payment and the cash receipt that occurred in2015.


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  • CreatedJanuary 16, 2015
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