Question: Current Attempt in Progress The ledger of Bramble Corp. on March 31 of the current year includes the selected accounts, shown below, before quarterly adjusting

 Current Attempt in Progress The ledger of Bramble Corp. on March31 of the current year includes the selected accounts, shown below, before
quarterly adjusting entries have been prepared. Credit Debit $ 7.200 3,300 Prepaid
Insurance Supplies Equipment Accumulated Depreciation-Equipment Notes Payable 18,750 $8,700 24,000 Unearned Rent

Current Attempt in Progress The ledger of Bramble Corp. on March 31 of the current year includes the selected accounts, shown below, before quarterly adjusting entries have been prepared. Credit Debit $ 7.200 3,300 Prepaid Insurance Supplies Equipment Accumulated Depreciation-Equipment Notes Payable 18,750 $8,700 24,000 Unearned Rent Revenue 11,400 59,000 Rent Revenue interest Expense Salaries and Wages Expense 0 13,000 An analysis of the accounts shows the following 1. 2. The equipment depreciates $300 per month. One-third of the unearned rent revenue was earned during the quarter Interest totaling $600 is accrued on the notes payable for the quarter. 3 4. Supplies on hand total $810. 5. Insurance expires at the rate of $400 per month. Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly, Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles Debit Credit 1. Mar. 31 2 Mar. 31 3. Mar. 31 Mar. 31 5 Mar 31

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!