CHAPTER 5- PROBLEM 5

Date Accounts Title and Explaination P.R Debit Credit

De 3
c 1 Office Supplies Expense 540 42,000  
    Office Supplies 140   42,000
    To adjust the office supplies account for the year end      
           
De 3
c 1 Unearned Consulting Revenues 220 150,000  
    Consulting Revenues 410   150,000
    To adjust the unearned revenues for the year end      
           
De 3
c 1 Depreciation Expense - Building 550 38,000  
    Depreciation Expense - Equipment 560 123,000  
    Accumulated Depreciation - Building 165   38,000
    Accumulated Depreciation - Equipment 175   123,000
    To adjust the accumulated depreciation of building and equipment for the year end      
           
De 3
c 1 Salaries Expense 510 14,000  
    Salaries Payable 230   14,000
    To adjust the salalries expense for the year end      
           
De 3
c 1 Interest Receivable 180 24,000  
    Interest Income 420   240,000
    To record the adjustment happened during the year end with the interest receivable account