90.2K

Verified Solution

Link Copied!

The ledger of Carla Vista Rental Agency on March 31 of the current year includes the following selected accounts, before adjusting

entries have been prepared.

Prepaid Insurance

Supplies

Equipment

Accumulated Depreciation-Equipment

Notes Payable

Unearned Rent Revenue

Rent Revenue

Interest Expense

Salaries and Wages Expense

Debit

$ 8,400

2,700

31,250

Credit

$ 7,920

21,000

9.600

61.000

O

13,000

An analysis of the accounts shows the following.

1.

2.

3

The equipment depreciates $495 per month.

One-third of the unearned rent revenue was earned during the quarter.

please write the answers exactly like in the picture

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. (List all debit entries before credit entries, Credit account tifles are automatically indented when the amount is entered. Do not indent manually. Question 2 of 4 125 2. Mar.31 3. Mar.31 4. Mar.31 5. Mar.31 The ledger of Carla Vista 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 $495 per month. 2. One-third of the unearned rent revenue was earned during the quarter. 3. Interest of $525 should be accrued on the notes payable

Answer & Explanation Solved by verified expert

See Answer