Following are two income statements for Alexis Co. for the year ended December 31. The...
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Accounting
Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts.
Income Statements For Year Ended December 31
Unadjusted
Adjusted
Revenues
Fees earned
$
24,000
$
31,200
Commissions earned
42,500
42,500
Total revenues
$
66,500
73,700
Expenses
Depreciation expenseComputers
0
1,800
Depreciation expenseOffice furniture
0
2,100
Salaries expense
12,500
15,440
Insurance expense
0
1,560
Rent expense
4,500
4,500
Office supplies expense
0
576
Advertising expense
3,000
3,000
Utilities expense
1,250
1,334
Total expenses
21,250
30,310
Net income
$
45,250
$
43,390
Analyze the statements and prepare the seven adjusting entries that likely were recorded. Hint: Entry for a refers to fees that have been earned but not yet billed. None of the entries involve cash.
2) (b) Record depreciation on computers.
3) (C) Record depreciation on office furniture.
4) (d) Record the adjusting entry related to salaries
5) (e) Record the adjusting entry related to insurance.
6) (f) Record the adjusting entry related to office supplies.
7) (g) Record the adjusting entry related to utilities.
The options are the same for every table 1 through 5 for General Journal
Journal entry worksheet 1 2 3 4 5 6 7 Record the adjusting entry for accrued revenues. Note: Enter debits before credits. Event General Journal Debit Credit Journal entry worksheet
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