Business, 15.10.2020 08:01 skylarhorse8068
The ledger of Shamrock, Inc. on March 31, 2022, includes the following selected accounts before adjusting entries.
Debit Credit
Supplies 2,780
Prepaid Insurance 2,240
Equipment 25,500
Unearned Service Revenue 14,700
An analysis of the accounts shows the following.
1. Insurance expires at the rate of $280 per month.
2. Supplies on hand total $890.
3. The equipment depreciates $170 per month.
4. During March, services were performed for two-fifths of the unearned service revenue.
Required:
Prepare the adjusting entries for the month of March.
Answers: 2
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