The ledger of Lefevour, Inc. on March 31, 2012, includes the following selected ac- Prepore adpesting...

 

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The ledger of Lefevour, Inc. on March 31, 2012, includes the following selected ac- Prepore adpesting enres counts before adjusting entries for deferrals (SO 5) Debit Credit Prepaid Insurance Supplies Equipment Unearned Service Revenue 2,400 2,500 30,000 9,000 An analysis of the accounts shows the following, 1. Insurance expires at the rate of $300 per month. 2. Supplies on hand total S1.100. 3. The equipment depreciates $500 per month. 4. 2/5 of the unearned service revenue was earned in March. Prepare the adjusting entries for the month of March. De itt 3-3 Johuny Knox is the new owner of Swift Computer Services. At the cnd of July 2012, Prepare udjusting entries for his first month of ownership, Johnny is trying to prepare monthly financial statements He has the following information for the month. accneals (50 6) 1. At July 31, Knox owed employces St,300 in salarics that the company will pay in August. 2. On July 1, Knox borrowed $20,000 from a local bank on a 10-year note. The annual interest rate is 12%. 3. Service revenuc unrecorded in July totaled $2.400, Prepare the adjusting entries needed at July 31, 2012. Calculate amounts from rial The ledger of Lefevour, Inc. on March 31, 2012, includes the following selected ac- Prepore adpesting enres counts before adjusting entries for deferrals (SO 5) Debit Credit Prepaid Insurance Supplies Equipment Unearned Service Revenue 2,400 2,500 30,000 9,000 An analysis of the accounts shows the following, 1. Insurance expires at the rate of $300 per month. 2. Supplies on hand total S1.100. 3. The equipment depreciates $500 per month. 4. 2/5 of the unearned service revenue was earned in March. Prepare the adjusting entries for the month of March. De itt 3-3 Johuny Knox is the new owner of Swift Computer Services. At the cnd of July 2012, Prepare udjusting entries for his first month of ownership, Johnny is trying to prepare monthly financial statements He has the following information for the month. accneals (50 6) 1. At July 31, Knox owed employces St,300 in salarics that the company will pay in August. 2. On July 1, Knox borrowed $20,000 from a local bank on a 10-year note. The annual interest rate is 12%. 3. Service revenuc unrecorded in July totaled $2.400, Prepare the adjusting entries needed at July 31, 2012. Calculate amounts from rial

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1 Adjusting entries for the month of March Date Particulars Debit Cr... View the full answer