Based on the following information, prepare the adjusting journal entries for Bella's Beauty Salon. Bella Beauty Salon's unadjusted trial balance for the current year follows:

Additional information:
a. An insurance policy examination showed $1,240 of expired insurance
b. An inventory count showed $210 of unused shop supplies still available
c. Depreciation expense on shop equipment, $350
d. Depreciation expense on the building, $2,220
e. A beautician is behind on space rental payments and this $200 of accrued revenue was unrecorded at the time the trial balance was prepared.
f. $800 of the Unearned Rent account balance was earned by year-end.
g. The one employee, a receptionist, works a five-day workweek at $50 per day. The employee was paid last week but has worked four days this week for which she has not been paid.
h. Three months' property taxes, totaling $450, have accrued. This additional amount of property taxes expense has not been recorded.
i. One month's interest on the note payable, $600, has accrued but is unrecorded.

Question

Based on the following information, prepare the adjusting journal entries for Bella's Beauty Salon. Bella Beauty Salon's unadjusted trial balance for the current year follows:

Additional information:
a. An insurance policy examination showed $1,240 of expired insurance
b. An inventory count showed $210 of unused shop supplies still available
c. Depreciation expense on shop equipment, $350
d. Depreciation expense on the building, $2,220
e. A beautician is behind on space rental payments and this $200 of accrued revenue was unrecorded at the time the trial balance was prepared.
f. $800 of the Unearned Rent account balance was earned by year-end.
g. The one employee, a receptionist, works a five-day workweek at $50 per day. The employee was paid last week but has worked four days this week for which she has not been paid.
h. Three months' property taxes, totaling $450, have accrued. This additional amount of property taxes expense has not been recorded.
i. One month's interest on the note payable, $600, has accrued but is unrecorded.

Quizplus · Accepted Answer

The Answer of Based on the following information, prepare the adjusting journal entries for Bella's Beauty Salon. Bella Beauty Salon's unadjusted trial balance for the current year follows:

Additional information:
a. An insurance policy examination showed $1,240 of expired insurance
b. An inventory count showed $210 of unused shop supplies still available
c. Depreciation expense on shop equipment, $350
d. Depreciation expense on the building, $2,220
e. A beautician is behind on space rental payments and this $200 of accrued revenue was unrecorded at the time the trial balance was prepared.
f. $800 of the Unearned Rent account balance was earned by year-end.
g. The one employee, a receptionist, works a five-day workweek at $50 per day. The employee was paid last week but has worked four days this week for which she has not been paid.
h. Three months' property taxes, totaling $450, have accrued. This additional amount of property taxes expense has not been recorded.
i. One month's interest on the note payable, $600, has accrued but is unrecorded.

Based on the Following Information, Prepare the Adjusting Journal Entries