90.2K

Verified Solution

Link Copied!

Please answer them all! Thanks.

A Data Table Maud's Motors Unadjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash $ 4,600 Accounts Receivable 26,400 Office Supplies 800 Prepaid Insurance 1,700 Equipment 52,600 Accumulated Depreciation, Equipment $ 34,800 Accounts Payable 14,000 Wages Payable Unearned Revenue 8,600 Common Stock 19,500 Dividends 4,000 Service Revenue 15,400 Depreciation Expense- Equipment Wages Expense 1,100 Insurance Expense Utilities Expense 1,100 Supplies Expense S Total 92,300 $ 92,300 Print Done More Info a. On January 4, Maud's Motors paid wages of $1,000. Of this, $500 of this related to the accrued wages recorded on December 31. b. On January 10, Maud's Motors received $1,500 for Service Revenue. Of this, $700 is related to the accrued Service Revenue recorded on December 31. Print Done -X More Info Adjustment data at December 31, 2018: a. Depreciation on equipment, $1,400. b. Accrued Wages Expense, $500. C. Office Supplies on hand, $100. d. Prepaid Insurance expired during December, $200. e. Unearned Revenue earned during December, $4,100. f. Accrued Service Revenue, $700. Print Done Requirement 1. Journalize adjusting entries (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. Depreciation on equipment, $1,400. Date Accounts and Explanation Debit Credit Dec. 31 Adj. (a) b. Accrued Wages Expense, $500. Date Accounts and Explanation Dec. 31 Adj. (b) Debit Credit c. Office Supplies on hand, $100. Date Accounts and Explanation Dec. 31 Adj. (C) Debit Credit d. Prepaid Insurance expired during December, $200. Accounts and Explanation Debit Credit Date Dec. 31 Adj. (d) e. Unearned Revenue earned during December, $4,100. Date Accounts and Explanation Debit Credit Dec. 31 Adj. (e) f. Accrued Service Revenue, $700. Date Accounts and Explanation Debit Credit Dec. 31 Adj. (1) Requirement 2. Journalize reversing entries for the appropriate adjusting entries. (If a reversing entry is not appropriate for an adjusting entry, select "No entry required" on the first "account" line and leave all other cells blank.) Review the adjusting entry you prepared in Requirement 1. Accounts and Explanation Debit Credit Date Jan. 1 Rev. (a) Review the adjusting entry you prepared in Requirement 1. Date Accounts and Explanation Debit Credit Jan. 1 Rev. (b) Review the adjusting entry you prepared in Requirement 1. Accounts and Explanation Debit Credit Date Jan. 1 Rev. (C) Review the adjusting entry you prepared in Requirement 1. Accounts and Explanation Debit Credit Date Jan. 1 Rev. (d) Review the adjusting entry you prepared in Requirement 1. Accounts and Explanation Debit Credit Date Jan. 1 Rev. (e) Review the adjusting entry you prepared in Requirement 1. Date Accounts and Explanation Debit Credit Jan. 1 Rev. (1) Requirement 3. Refer to the 2019 data. Journalize the cash payment and the cash receipt that occurred in 2019. Begin with transaction a. a. On January 4, Maud's Motors paid wages of $1,000. Of this, $500 of this related to the accrued wages recorded on December 31. Date Accounts and Explanation Debit Credit Jan. 4 b. On January 10, Maud's Motors received $1,500 for Service Revenue. Of this, $700 is related to the accrued Service Revenue recorded on December 31. Date Accounts and Explanation Debit Credit Jan. 10

Answer & Explanation Solved by verified expert

See Answer