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The following accounts are used by Mouse Potato, Incorporated, a computer game maker. Accounts Accounts Receivable Accumulated Depreciation Cash Interest Revenue Deferred Revenue Depreciation Expense Equipment Interest Expense Interest Payable Notes Payable (long-term) Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Service Revenue Supplies Supplies Expense Required: For each of the following independent situations, give the journal entry by selecting the appropriate account(s) and amount(s). We've done the first one for you as an example. Debit Credit Independent Situations Account Amount Account Amount a. Accrued wages, unrecorded and unpaid at year-end, $410. b. Service revenue collected in advance, $610. C. At year-end, interest on notes payable not yet recorded or paid, Salaries and Wages Expense s 410 Salaries and Wages Payable $ 410 $230. d. Depreciation expense for year, $1,050. e. Service revenue earned but not yet collected at year-end, $1,050. 1. Balance in Supplies account, $410; supplies on hand at year-end, $155. g. Adjusted balance at year-end in Service Revenue account, $76,000. Give the journal entry to close this one account at year-end.

The following accounts are used by Mouse Potato, Incorporated, a computer game maker. Accounts Accounts Receivable Accumulated Depreciation Cash Interest Revenue Deferred Revenue Depreciation Expense Equipment Interest Expense Interest Payable Notes Payable (long-term) Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Service Revenue Supplies Supplies Expense Required: For each of the following independent situations, give the journal entry by selecting the appropriate account(s) and amount(s). We've done the first one for you as an example. Debit Credit Independent Situations Account Amount Account Amount a. Accrued wages, unrecorded and unpaid at year-end, $410. b. Service revenue collected in advance, $610. C. At year-end, interest on notes payable not yet recorded or paid, Salaries and Wages Expense s 410 Salaries and Wages Payable $ 410 $230. d. Depreciation expense for year, $1,050. e. Service revenue earned but not yet collected at year-end, $1,050. 1. Balance in Supplies account, $410; supplies on hand at year-end, $155. g. Adjusted balance at year-end in Service Revenue account, $76,000. Give the journal entry to close this one account at year-end.

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter11: Work Sheet And Adjusting Entries
Section: Chapter Questions
Problem 4E: Indicate the work sheet columns (Income Statement Debit, Income Statement Credit, Balance Sheet...
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E4-12 (Algo) Recording Transactions Including Adjusting and Closing Journal Entries [LO 4-2, LO 4-5]

The following accounts are used by Mouse Potato, Incorporated, a computer game maker.

 

Accounts
Accounts Receivable Interest Revenue
Accumulated Depreciation Notes Payable (long-term)
Cash Retained Earnings
Deferred Revenue Salaries and Wages Expense
Depreciation Expense Salaries and Wages Payable
Equipment Service Revenue
Interest Expense Supplies
Interest Payable Supplies Expense

 

Required:
For each of the following independent situations, give the journal entry by selecting the appropriate account(s) and amount(s). We’ve done the first one for you as an example.

E4-12 (Algo) Recording Transactions Including Adjusting and Closing Journal Entries (LO 4-2, LO 4-5) The following accounts are used by Mouse Potato, Incorporated, a computer game maker. Accounts Accounts Receivable Interest Revenue Accumulated Depreciation Cash Notes Payable (long-term) Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Deferred Revenue Depreciation Expense Equipment Interest Expense Interest Payable Service Revenue Supplies Supplies Expense Required: For each of the following independent situations, give the journal entry by selecting the appropriate account(s) and amount(s). We've done the first one for you as an example. Debit Credit Independent Situations Account Amount Account Amount a. Accrued wages, unrecorded and unpaid at year-end, $410. b. Service revenue collected in advance, $610. C. At year-end, interest on notes payable not yet recorded or paid, Salaries and Wages Expense $ 410 Salaries and Wages Payable 24 410 $230. d. Depreciation expense for year, $1,050. e. Service revenue earned but not yet collected at year-end, $1,050. f. Balance in Supplies account, $410; supplies on hand at year-end, $155. g. Adjusted balance at year-end in Service Revenue account, $76,000. Give the journal entry to close this one account at year-end.
Transcribed Image Text:E4-12 (Algo) Recording Transactions Including Adjusting and Closing Journal Entries (LO 4-2, LO 4-5) The following accounts are used by Mouse Potato, Incorporated, a computer game maker. Accounts Accounts Receivable Interest Revenue Accumulated Depreciation Cash Notes Payable (long-term) Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Deferred Revenue Depreciation Expense Equipment Interest Expense Interest Payable Service Revenue Supplies Supplies Expense Required: For each of the following independent situations, give the journal entry by selecting the appropriate account(s) and amount(s). We've done the first one for you as an example. Debit Credit Independent Situations Account Amount Account Amount a. Accrued wages, unrecorded and unpaid at year-end, $410. b. Service revenue collected in advance, $610. C. At year-end, interest on notes payable not yet recorded or paid, Salaries and Wages Expense $ 410 Salaries and Wages Payable 24 410 $230. d. Depreciation expense for year, $1,050. e. Service revenue earned but not yet collected at year-end, $1,050. f. Balance in Supplies account, $410; supplies on hand at year-end, $155. g. Adjusted balance at year-end in Service Revenue account, $76,000. Give the journal entry to close this one account at year-end.
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