|
|
| Date |
| Debit |
Credit |
|
|
| December 31, 2017 |
Rent Expense |
8,000 |
|
|
|
| Prepaid Rent |
| 8,000 |
|
|
| To record rent that has been used up - I divided $24,000 by 12 months and then multiplied by 8 months |
|
|
| December 31, 2017 |
Depreciation Expense |
1,200 |
|
|
|
| Accumulated Depreciation |
| 1,200 |
|
|
| To record depreciation expense - I divided $7,200 by 36 months and then multiplied by 6 months |
|
|
| December 31, 2017 |
Salaries Expense |
24,000 |
|
|
|
| Salaries Payable |
| 24,000 |
|
|
| To accrue for 3 days of salaries- I divided $40,000 by 5 and then multiplied times 3 days. |
narranitin9
SolutiontoAdjustingJournalEntryQuestionIasked1.xlsx
