The ledger of Columbia, Inc. on March 31, 2014, includes the following selected accounts before adjusting entries. Debit CreditSupplies………………2,500Prepaid Insurance…………..2,400Equipment………………30,000Unearned Service Revenue…………….10,000An analysis of the accounts shows the following. 1. Insurance expires at the rate of $300 per month. 2. Supplies on hand total $900. 3. The equipment depreciates $200 per month. 4. During March, services were performed for two-fifths of the unearned service revenue.Prepare the adjusting entries for the month of March.View Solution:
The ledger of Columbia Inc on March 31 2014 includes



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