1. The ledger of Hammond, Inc. on March 31, 2010, includes the following selected accounts before adjusting entries.
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Debit Don't use plagiarized sources. Get Your Custom Essay on
prepare the adjusting entries for the month of march 337707
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Credit |
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Prepaid Insurance |
3,600 |
Office Supplies |
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Office Equipment |
25,000 |
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Accumulated Depreciation—Office Equipment |
5,000 |
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Unearned Revenue |
9,200 |
An analysis of the accounts shows the following.
1. Insurance expires at the rate of $100 per month.
2. Supplies on hand total $800.
3. The office equipment depreciates $200 a month.
4. One half of the unearned revenue was earned in March.
Prepare the adjusting entries for the month of March
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