Question

An extract from the trial balance of Armstrong Corp. at June 30, 2019 is reproduced below:...

An extract from the trial balance of Armstrong Corp. at June 30, 2019 is reproduced below:

Account

Amount in unadjusted trial balance

Amount in adjusted trial balance Unused office supplies

$ 190

$ 55

Accumulated depreciation – truck

0

400

Prepaid insurance

850

610

Interest payable

0

100

Unearned rent

1,000

500

Requires: Prepare in General Journal format the entry that is posted including a plausible description. General Ledger account numbers are not necessary.

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Answer #1

Answer:

S. No. Particulars Debit ($) Credit ($)
a. Office Supplies Expense 135
Office Supplies 135
Record adjustment of Office Supplies
b. Depreciation EXpense 400
Accumulated Depreciation 400
Record Dep. On truck
c. Insurance Expense (850-610) 240
Prepaid Insurance 240
d. interest Expense 100
Interest Payable 100
Record the interest expense
e. Unearned Rent 500
Rent Income 500
Record Rent Revenue
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