Blog: FIN621 Assignment 01 Complete Solution 2 Spring 2013

okay dear follows am posting all the entries, one by one.

1-

Adjusting entry:

Depreciation expense A/C                              61,700 (Dr.)

            Accumulated Depreciation A/C                                 61,700 (Cr.)

2-

Interest expense A/C                                      10,839 (Dr.)

           

            Babib Bank Limited A/C                                10,839 (Cr.)

3- 

Embroidery Material A/C                               27,400 (Dr.)

      Account payable A/C                                                 27,400 (Cr.)

4- 

Insurance expense A/C                                   10,000 (Dr.)

            Prepaid Insurance A/C                                    10,000 (Cr.)

5- 

Supplies expense A/C                                     74,652 (Dr.)

            Supplies A/C                                                   74,652 (Cr.)

6- 

Unearned revenue A/C                                   31,697 (Dr.)

            Revenue A/C                                                  31,697 (Cr.)

7-

Advertisement Expense A/C                                      9,000 (Dr.)

            Prepaid Advertisement A/C                                       9,000 (Cr.)

8- No entry is required to make for rent..

That's it

All the best for good grades,

regards

+♦6^6 Faizan Raza