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Ch.6 Assignment

The document outlines an assignment for a Financial Accounting II course, focusing on recording adjusted entries in a journal for Ortega Tax Service Company. It includes specific entries related to office supplies, insurance, depreciation, telephone expenses, and unearned revenue. The assignment is structured in two steps: recording the adjusted entries and posting them to the ledger account.

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34 views4 pages

Ch.6 Assignment

The document outlines an assignment for a Financial Accounting II course, focusing on recording adjusted entries in a journal for Ortega Tax Service Company. It includes specific entries related to office supplies, insurance, depreciation, telephone expenses, and unearned revenue. The assignment is structured in two steps: recording the adjusted entries and posting them to the ledger account.

Uploaded by

tryondenford
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Ch.

6
Assignment

Course Title: Financial Accounting II


1 Course Code: EAS204
Course Teacher: Dr. ALA FATHI ASSI
E-mail: [email protected]

Dr. Ala Fathi Assi


Unadjusted

Dr. Ala Fathi Assi


Solution 1.
3 Step 1: Recording the adjusted entries in journal

Ortega Tax Service Company


Adjusted entries-General journal
December 31, 2010
Accounts Debit Credit

Office Supplies Expense 555


to Office Supplies ($780- $225 = $555) 555

Insurance Expense account 140


To Prepaid unexpired Insurance ($240- $100 = $140) 140

Depreciation expense - equipment 795


To Accumulated Depreciation -equipment 795

Telephone expense account 21


To Telephone payable 21

Unearned Service Tax Fees Revenue account 219


To Service Tax Fees Revenue 219
Dr. Ala Fathi Assi
Solution 1.
4
Step 2: Posting the adjusted entries to ledger account
Unearned revenue
Office supplies expenses Insurance Depreciation Expense
Expense 219 219
555 795
140
0 0
555 795
140
Office supplies Prepaid Insurance Accum. Depreciation Tax Revenue
780 240 770 21926
555 140 795 219
225 100 1565 22145

Telephone Expense Acc. payable


220 635
21 21
241 Dr. Ala Fathi Assi 655

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