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E3-7 : The ledger of Villa Rental Agency on march 31 of the
current year includes the selected accounts, shown below, before
adjusting entries have been prepared. ............
An analysis of the accounts shows the following. Prepare the
adjusting entries at March 31, assuming that adjusting entries are
made quarterly. Additional accounts are: Depreciation Expense,
Insurance Expense, Interest Payable, and Supplies Expense.
E3-11 : A partial adjusted trial balance of Ruiz Company at
January 31, 2014, shows the following. ............
a) If the amount in Supplies Expense is the January 31
adjusting entry, and $670 of supplies was purchased in January,
what was the balance in Supplies on January 1? ............
b)
If the amount in Insurance Expense is the January 31
adjusting entry, and the original insurance premium was for one
year, what was the total premium and when was the policy
purchased? ............
c)
If $3,300 of salaries was paid in January, what was the
balance in Salaries and Wages Payable at December 31, 2013?
............
P3-2A : Lazy River Resort opened for business on June 1 with
eight air-conditioned units. Its trial balance before adjustment on
August 31 is as follows.
a) Journalize the adjusting entries on August 31 for the 3-
month period June 1–August 31. ............
b)
Prepare a ledger using the three-column form of account.
Enter the trial balance amounts and post the adjusting
entries............
c)
Prepare an adjusted trial balance on August 31. ............