Question

Germain Consulting made the following transactions during January 2023:

01/01/2023 Mason Germain invested $13,000 in his business

01/01/2023 Paid $700 for rent expense to Joseph leasing

01/02/2023 Purchased computer equipment for $2,400 on account for Cecelia Associates

01/03/2023 Purchased copier/printer/fax machine for $900 on account for Cecelia Associates

01/06/2023 Emailed invoice to Luminesse Link for 12 hours of internet marketing consulting and 8 hours of social media marketing consulting.

01/08/2023 Emailed invoice to Bichotte supplies for 13 hours of internet marketing consulting and 9 hours of social media marketing consulting.

01/10/2023 Emailed invoice to Mimi Petit for 4 hours if internet marketing consulting

01/15/2023 Emailed invoice to Bichotte Supplies for 18 hours of social media marketing consulting

01/20/2023 Paid $400 for office technology supplies from Maria Cecilia Associates. (Record as office supplies)

01/20/2023 Received payment from Luminesse Link.

01/22/2023 Emailed invoice to Luminesse Link for 15 hours of internet marketing consulting

01/22/2023 Received payment from Bichotte supplies for 1410.00

01/23/2023 Received payment from Mimi Petit

01/24/2023 Paid $120 for office technology supplies from Maria Cecilia Associates

01/27/2023 Emailed invoice to Mimi Petit for 3 hours of internet marketing consulting and 8 hours of social media consulting

01/28/2023 Received payment from Bichotte supplies and recorded deposit

01/31/2023 Paid Maria Cecilia Associates bill for $2,400 computer

1) Enter adjusting entries at January 31, 2023 using the following information:

a) the $2400 computer is depreciated over 24 months using straight-line depreciation and no salvage value

b) The $900 copier/printer/fax is depreciated of 36 months using straight-line depreciation and no salvage value

Answer 1

In the requirement only the adjustment entries are asked to do. So here only 2 adjusting are possible, both are for the depreciation of assets (computer and printer).
No ending balance of office supplies are given.
Rent expense is assumed the whole is for that month only.

1. Depreciation of computer for the month

Depreciation Exp-Comp. Dr. 100
Computer Cr. 100

Depreciation = 2,400 / 24 = $100

2. Depreciation of printer

Depreciation Exp-Printer Dr. 25
Printer Cr. 25

Depreciation = 900 / 36 = $25