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Page No: 181 -182

Problem No: 4.3

Adjusting Entries
NO:
a.
b.
c.
d.
e.

f.
g.

h.

ADJUSTMENTS
Interest expense
Interest payable

DEBIT $
180

Salaries expense
Salaries payable

3,470

Unearned retainer fees
Legal fees earned

7,700

Legal fees receivable
Legal fees earned

4,780

Insurance expense
Unexpired insurance
(3,000/6=500)

500

Office rent expense
Prepaid office ent

1,600

Office supplies expense
Office supplies
(1,460-1100=360)

360

Depreciation expense
Accumulated depreciation: office equipment
(26,400/10=2,640/12=220)

220

180
3,470
7,700
4,780
500

1,600
360

1. Cash
Debit $
Balance B/F

10,060

Balance B/F

10,060/=
10,060

2. Legal fees receivable
Debit $
d.

4,780

Balance B/F

4,780/=
4,780

Adjusting Entries

CREDIT $

Credit $
Balance C/F

220

10,060
10,060/=

Credit $
Balance C/F

4,780
4,780/=
Page No: 181 -182

Problem No: 4.3

3. Unexpired insurance
Debit $
Balance B/F

3,000

Balance B/F

3,000/=
2,500

4. Prepaid office rent
Debit $
Balance B/F

4,800

Balance B/F

4,800/=
3,200

5. Office supplies
Debit $
Balance B/F

1,460

Balance B/F

1,460/=
1,100

6. Office equipment
Debit $
Balance B/F

26,400

Balance B/F

Credit $
e.
Balance C/F

Credit $
f.
Balance C/F

Credit $
g.
Balance C/F

26,400/=
26,400

Credit $
Balance C/F

500
2,500
3,000/=

1,600
3,200
4,800/=

360
1,100
1,460/=

26,400
26,400/=

7. Accumulated depreciation: Office equipment
Debit $
Credit $
Balance C/F
220
h.
220/=

220

Balance B/F
8. Notes payable
Debit $
Balance C/F

16,000
16,000/=

Adjusting Entries

220/=
220

Credit $
Balance B/F

16,000
16,000/=
Page No: 181 -182

Problem No: 4.3
Balance B/F

180
180/=
180

Credit $
b.

3,470

Balance B/F

3,470/=
3,470

Credit $
Balance B/F

16,020

Balance B/F

16,020/=
8,320

Credit $
Balance B/F

20,000

Balance B/F

180

Credit $
a.

Balance B/F

9. Interest payable
Debit $
Balance C/F

16,000

20,000/=
10,060

Credit $
Balance C/F

4,000

180/=

10. Salaries payable
Debit $
Balance C/F

3,470
3,470/=

11. Unearned retainer fees
Debit $
c.
Balance C/F

12. Pat hamiltion, capital
Debit $
Balance C/F

7,700
8,320
16,020/=

20,000
20,000/=

13. Pat hamilton, drawing
Debit $
Balance B/F

4,000

Balance B/F

4,000/=
4,000

14. Legal fees earned
Debit $
Balance C/F

6,360

Adjusting Entries

4,000/=

Credit $
Balance B/F
d.

1,580
4,780
Page No: 181 -182

Problem No: 4.3
6,360/=
Balance B/F

15. Salaries expense
Debit $
Balance B/F
b.
Balance B/F

2,680
3,470
6,150/=
6,150

16. Miscellaneous expense
Debit $
Balance B/F

1,200

Balance B/F

6,360/=
6,360

Credit $
Balance C/F

6,150

1,200/=
1,200

17. Office rent expense
Debit $
f.

1,600

Balance B/F

6,150/=

Credit $
Balance C/F

1,200/=

1,600/=
1,600

18. Office supplies expense
Debit $
g.

360

Balance B/F

Credit $
Balance C/F

Balance B/F
20. Interest expense
Debit $
a.
Adjusting Entries

Credit $
Balance C/F

360
360/=

Credit $
Balance C/F

220/=
220

180

1,600
1,600/=

360/=
360

19. Depreciation expense: Office equipment
Debit $
h.
220

1,200

220
220/=

Credit $
Balance C/F

180
Page No: 181 -182

Problem No: 4.3

Balance B/F

180/=
180

21. Insurance expense
Debit $
e.

500

Balance B/F

500/=
500

No.

180/=

Credit $
Balance C/F

500
500/=

1.

Adjustments
Cash

Debit $
10,060

2.

Legal fees receivable

4,780

3.

Unexpired insurance

2,500

4.

Prepaid office rent

3,200

5.

Office supplies

1,100

6.

Office equipment

26,400

7.

Accumulated depreciation: office equipment

220

8.

Notes payable

16,000

9.

Interest payable

180

10.

Salaries payable

3,470

11.

Unearned retainer fees

8,320

12.

Pat Hamilton, Capital

20,000

13.

Pat Hamilton, Drawing

14.

Legal fees earned

15.

Salaries expense

6,150

16.

Miscellaneous expense

1,200

Adjusting Entries

Credit $

4,000
6,360
Page No: 181 -182

Problem No: 4.3

17.

Office rent expense

1,600

18.

Office supplies expense

360

19.

Depreciation expense: Office Equipment

220

20.

Interest expense

180

21.

Insurance expense

500

Total

62,250/=

Adjusting Entries

54,550/=
Page No: 181 -182

Problem No: 4.3

17.

Office rent expense

1,600

18.

Office supplies expense

360

19.

Depreciation expense: Office Equipment

220

20.

Interest expense

180

21.

Insurance expense

500

Total

62,250/=

Adjusting Entries

54,550/=

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P 4.3 adjusting entries pg no 181 182

  • 1. Page No: 181 -182 Problem No: 4.3 Adjusting Entries NO: a. b. c. d. e. f. g. h. ADJUSTMENTS Interest expense Interest payable DEBIT $ 180 Salaries expense Salaries payable 3,470 Unearned retainer fees Legal fees earned 7,700 Legal fees receivable Legal fees earned 4,780 Insurance expense Unexpired insurance (3,000/6=500) 500 Office rent expense Prepaid office ent 1,600 Office supplies expense Office supplies (1,460-1100=360) 360 Depreciation expense Accumulated depreciation: office equipment (26,400/10=2,640/12=220) 220 180 3,470 7,700 4,780 500 1,600 360 1. Cash Debit $ Balance B/F 10,060 Balance B/F 10,060/= 10,060 2. Legal fees receivable Debit $ d. 4,780 Balance B/F 4,780/= 4,780 Adjusting Entries CREDIT $ Credit $ Balance C/F 220 10,060 10,060/= Credit $ Balance C/F 4,780 4,780/=
  • 2. Page No: 181 -182 Problem No: 4.3 3. Unexpired insurance Debit $ Balance B/F 3,000 Balance B/F 3,000/= 2,500 4. Prepaid office rent Debit $ Balance B/F 4,800 Balance B/F 4,800/= 3,200 5. Office supplies Debit $ Balance B/F 1,460 Balance B/F 1,460/= 1,100 6. Office equipment Debit $ Balance B/F 26,400 Balance B/F Credit $ e. Balance C/F Credit $ f. Balance C/F Credit $ g. Balance C/F 26,400/= 26,400 Credit $ Balance C/F 500 2,500 3,000/= 1,600 3,200 4,800/= 360 1,100 1,460/= 26,400 26,400/= 7. Accumulated depreciation: Office equipment Debit $ Credit $ Balance C/F 220 h. 220/= 220 Balance B/F 8. Notes payable Debit $ Balance C/F 16,000 16,000/= Adjusting Entries 220/= 220 Credit $ Balance B/F 16,000 16,000/=
  • 3. Page No: 181 -182 Problem No: 4.3 Balance B/F 180 180/= 180 Credit $ b. 3,470 Balance B/F 3,470/= 3,470 Credit $ Balance B/F 16,020 Balance B/F 16,020/= 8,320 Credit $ Balance B/F 20,000 Balance B/F 180 Credit $ a. Balance B/F 9. Interest payable Debit $ Balance C/F 16,000 20,000/= 10,060 Credit $ Balance C/F 4,000 180/= 10. Salaries payable Debit $ Balance C/F 3,470 3,470/= 11. Unearned retainer fees Debit $ c. Balance C/F 12. Pat hamiltion, capital Debit $ Balance C/F 7,700 8,320 16,020/= 20,000 20,000/= 13. Pat hamilton, drawing Debit $ Balance B/F 4,000 Balance B/F 4,000/= 4,000 14. Legal fees earned Debit $ Balance C/F 6,360 Adjusting Entries 4,000/= Credit $ Balance B/F d. 1,580 4,780
  • 4. Page No: 181 -182 Problem No: 4.3 6,360/= Balance B/F 15. Salaries expense Debit $ Balance B/F b. Balance B/F 2,680 3,470 6,150/= 6,150 16. Miscellaneous expense Debit $ Balance B/F 1,200 Balance B/F 6,360/= 6,360 Credit $ Balance C/F 6,150 1,200/= 1,200 17. Office rent expense Debit $ f. 1,600 Balance B/F 6,150/= Credit $ Balance C/F 1,200/= 1,600/= 1,600 18. Office supplies expense Debit $ g. 360 Balance B/F Credit $ Balance C/F Balance B/F 20. Interest expense Debit $ a. Adjusting Entries Credit $ Balance C/F 360 360/= Credit $ Balance C/F 220/= 220 180 1,600 1,600/= 360/= 360 19. Depreciation expense: Office equipment Debit $ h. 220 1,200 220 220/= Credit $ Balance C/F 180
  • 5. Page No: 181 -182 Problem No: 4.3 Balance B/F 180/= 180 21. Insurance expense Debit $ e. 500 Balance B/F 500/= 500 No. 180/= Credit $ Balance C/F 500 500/= 1. Adjustments Cash Debit $ 10,060 2. Legal fees receivable 4,780 3. Unexpired insurance 2,500 4. Prepaid office rent 3,200 5. Office supplies 1,100 6. Office equipment 26,400 7. Accumulated depreciation: office equipment 220 8. Notes payable 16,000 9. Interest payable 180 10. Salaries payable 3,470 11. Unearned retainer fees 8,320 12. Pat Hamilton, Capital 20,000 13. Pat Hamilton, Drawing 14. Legal fees earned 15. Salaries expense 6,150 16. Miscellaneous expense 1,200 Adjusting Entries Credit $ 4,000 6,360
  • 6. Page No: 181 -182 Problem No: 4.3 17. Office rent expense 1,600 18. Office supplies expense 360 19. Depreciation expense: Office Equipment 220 20. Interest expense 180 21. Insurance expense 500 Total 62,250/= Adjusting Entries 54,550/=
  • 7. Page No: 181 -182 Problem No: 4.3 17. Office rent expense 1,600 18. Office supplies expense 360 19. Depreciation expense: Office Equipment 220 20. Interest expense 180 21. Insurance expense 500 Total 62,250/= Adjusting Entries 54,550/=