Solve Chegg Question

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For each of the above transactions, prepare the adjusting journal entry that is required on December 31. (Hint: Use the account Service Revenue for item 3 and Maintenance and Repairs Expense for item 4.)  (Round answers to 0 decimal places, e.g. 5,275. 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. Date Account Titles and Explanation Debit Credit
1. Dec. 31, 2017 enter an account title to record the first transaction

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enter a debit amount

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enter a credit amount

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enter an account title to record the first transaction

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enter a debit amount

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enter a credit amount

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2. Dec. 31, 2017 enter an account title to record the second transaction

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enter a debit amount

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enter a credit amount

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enter an account title to record the second transaction

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enter a debit amount

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enter a credit amount

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3. Dec. 31, 2017 enter an account title to record the third transaction

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enter a debit amount

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enter a credit amount

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enter an account title to record the third transaction

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enter a debit amount

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enter a credit amount

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4. Dec. 31, 2017 enter an account title to record the fourth transaction

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enter a debit amount

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enter a credit amount

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enter an account title to record the fourth transaction

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enter a debit amount

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enter a credit amount

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5. Dec. 31, 2017 enter an account title to record the fifth transaction

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enter a debit amount

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enter a credit amount

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enter an account title to record the fifth transaction

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enter a debit amount

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enter a credit amount

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Post the journal entries in parts (a) and (b) to T-accounts and determine the final balance in each account balance. (Note: Posting to the Cash account is not required.)  (Round answers to 0 decimal places, e.g. 5,275. Post entries in the order displayed in the problem statement.)

Prepaid Insurance
choose a transaction date

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enter a debit amount

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choose a transaction date

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enter a credit amount

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choose the end date of the accounting period

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enter a debit balance

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choose the end date of the accounting period

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enter a credit balance

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Prepaid Rent
choose a transaction date

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enter a debit amount

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choose a transaction date

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enter a credit amount

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choose the end date of the accounting period

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enter a debit balance

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choose the end date of the accounting period

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enter a credit balance

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Unearned Service Revenue
choose a transaction date

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enter a debit amount

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choose a transaction date

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enter a credit amount

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choose a transaction date

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enter a debit amount

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choose a transaction date

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enter a credit amount

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choose the end date of the accounting period

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enter a debit balance

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choose the end date of the accounting period

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enter a credit balance

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Prepaid Cleaning
choose a transaction date

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enter a debit amount

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choose a transaction date

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enter a credit amount

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choose the end date of the accounting period

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enter a debit balance

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choose the end date of the accounting period

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enter a credit balance

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Insurance Expense
choose the end date of the accounting period

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enter a debit balance

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choose the end date of the accounting period

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enter a credit balance

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Rent Expense
choose the end date of the accounting period

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enter a debit balance

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choose the end date of the accounting period

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enter a credit balance

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Service Revenue
choose a transaction date

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enter a debit amount

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choose a transaction date

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enter a credit amount

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choose a transaction date

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enter a debit amount

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choose a transaction date

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enter a credit amount

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choose the end date of the accounting period

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enter a debit balance

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choose the end date of the accounting period

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enter a credit balance

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Maintenance and Repairs Expense
choose the end date of the accounting period

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enter a debit balance

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choose the end date of the accounting period

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enter a credit balance

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Click if you would like to Show Work for this question:

Prepaid Insurance

700

Rent Expense

5440

Prepaid Rent

5440

Unearned Service

960

Service Revenue

960

Maintenance and

850

Prepaid Cleaning

850

Unearned Service

950

Insurance Expens

Service Revenue

950

June 1

1200

Dec. 31 Adj.

700

Dec. 31 Bal.

500

700

1200

Aug. 31

6800

Dec. 31 Adj.

5440

Dec. 31 Bal.

1360

Dec. 31 Adj.

6800