High quality homework help from top writers

Every paper is written from scratch. Our top homework writers will please you with excellent quality and timing for your paper

[SOLVED] Question & Answer: The ledger of Kingbird, Inc. on March 31, 2017, includes the following selected accounts before adjusting entries

Do It! Review 4-2 The ledger of Kingbird, Inc. on March 31, 2017, includes the following selected accounts before adjusting entries Debit Credit Supplies Prepaid Insurance Equipment Unearned Service Revenue 4,510 2,320 24,000 11,000 An analysis of the accounts shows the following Insurance expires at the rate of $290 per month 2. Supplies on hand total $900. 3. The equipment depreciates $160 per month . During March, services were performed for two-fifths of the unearned service revenue Prepare the adjusting entries for the month of March. (If no entry is required, select No Entry for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 2.

The ledger of Kingbird, Inc. on March 31, 2017, includes the following selected accounts before adjusting entries. An analysis of the accounts shows the following. Insurance expires at the rate of $290 per month. 2. Supplies on hand total $900. 3. The equipment depreciates $160 per month. During March, services were performed for two-fifths of the unearned service revenue. Prepare the adjusting entries for the month of March. (If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Expert Answer

Adjusting journal entries for the month of March
No. Account Tites and Explanation Debit Credit
1 Insurance Expense $290
Prepaid Insurance $290
(recording of insurance expense for the month of March)
2 Supplies Expense $3,610
Supplies $3,610
(recording of supplies expense for the month of March)
3 Depreciation Expense $160
Accumulated Depreciation – Equipment $160
(recording of depreciation on equipment for the month of March)
4 Unearned Service Revenue $4,400
Service Revenue $4,400
(recording of service revenue for the month of March)

Related:[SOLVED] Respond to this post with a positive response :Ask questions to help clarify the scenario and application of data, or offering additional/alternative ideas for the application of nursing informatics p

during march, services were performed for two-fifths of the unearned service revenue.

top homework writers