1. Prepare adjusting journal entries, as needed, considering the account balances excerpted from the unadjusted trial balance and the adjustment data. A. Supplies actual count at year end, $6,500 B. Remaining unexpired insurance, $6,000 C. Remaining unearned service revenue, $1,200 D. Salaries owed to employees, $2,400 E. Depreciation on property plant and equipment, $18,000

Answer and Explanation:

The adjusting entries are shown below"

A. Supplies Expense$1,000($7,500 - $6,500)

          To Supplies  $1,000

(Being the Supplies Expense is adjusted)  

B. Insurance Expense$18,000($24,000 - $6,000)

      To Prepaid Insurance  $18,000

(Being  Insurance Expense is adjusted)  

C. Unearned Service Revenue$1,800($3,000 - $1,200)

        To Service Revenue  $1,800

(Being Service Revenue is adjusted)  

D. Salaries Expense$2,400  

          To Salaries Payable  $2,400

(being Salaries Expense is adjusted)  

E. Depreciation Expense$18,000  

       To Accumulated Depreciation-  Property Plant and Equipment  $18,000

(Being Depreciation Expense is adjusted)  

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