Making Adjusting Journal Entries
Not what you're looking for?
The ledger of Duggan Rental Agency On March 31 of the current year includes the following selected accounts before adjusting entries have been prepared.
An analysis of the accounts shows the following.
1. The equipment depreciates $250 per month.
2. One-third of the unearned rent was recognized as during the quarter.
3. Interest of $500 is accrued on the notes payable.
4. Supplies on hand total $850.
5. Insurance expires at the rate of $300 per month.
Purchase this Solution
Solution Summary
This solution illustrates how to journalize quarterly adjusting entries in Excel.
Purchase this Solution
Free BrainMass Quizzes
Employee Orientation
Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.
Lean your Process
This quiz will help you understand the basic concepts of Lean.
Basic Social Media Concepts
The quiz will test your knowledge on basic social media concepts.
Production and cost theory
Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.
Understanding the Accounting Equation
These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.