Ivanhoe Coffeeshop began operations April 1. At April 30, the trial balance shows the following balances...
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Ivanhoe Coffeeshop began operations April 1. At April 30, the trial balance shows the following balances for selected accounts: Prepaid Insurance Equipment Notes Payable Unearned Revenue Service Revenue 1. 2. 3. 4. $3,720 Analysis reveals the following additional data. 5. 22,960 22,000 3,970 1,500 Prepaid insurance is the cost of a 2-year insurance policy, effective April 1. Depreciation on the equipment is $410 per month. The note payable is dated April 1. It is a 6-month, 6% note. Services delivered to customers but not recorded at April 30 totalled $1,560. Provided $620 of services to customers who had paid at the beginning of the month. Prepare the adjusting entries for the month of April. (Credit account titles are automatically indented when the amount is entered. Do not indent man credit entries.) No. Account Titles and Explanation 1. 2. 3. 4. 5. Debit Credit Ivanhoe Coffeeshop began operations April 1. At April 30, the trial balance shows the following balances for selected accounts: Prepaid Insurance Equipment Notes Payable Unearned Revenue Service Revenue 1. 2. 3. 4. $3,720 Analysis reveals the following additional data. 5. 22,960 22,000 3,970 1,500 Prepaid insurance is the cost of a 2-year insurance policy, effective April 1. Depreciation on the equipment is $410 per month. The note payable is dated April 1. It is a 6-month, 6% note. Services delivered to customers but not recorded at April 30 totalled $1,560. Provided $620 of services to customers who had paid at the beginning of the month. Prepare the adjusting entries for the month of April. (Credit account titles are automatically indented when the amount is entered. Do not indent man credit entries.) No. Account Titles and Explanation 1. 2. 3. 4. 5. Debit Credit
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Answer rating: 100% (QA)
No Account Titles and Explanation Debit Credit 1 Insurance Expense 1860 Prepaid Insurance 1860 2 Depreciation Expense 410 Accumulated Depreciation Equ... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119048503
7th Canadian Edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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