A select list of transactions for Anuradha’s Goals follows:Apr 1 Paid six months of rent, $4,800.10...

Question

A select list of transactions for Anuradha’s Goals follows:
Apr 1 Paid six months of rent, $4,800.
10 Received $1,200 from customer for six-month service contract that began April 1.
15 Purchased computer for $1,000.
18 Purchased $300 of office supplies on account.
30 Work performed but not yet billed to customer, $500.
30 Employees earned $600 in salary that will be paid May 2.
Requirement
1. For each transaction, identify what type of adjusting entry would be needed.

Robert · Accepted Answer

Select list of transactions for Anuradha’s Goals follows: 
Requirement 
1. For each transaction, identify what type of adjusting entry would be needed. 
Apr 1 Paid six months of rent, $4,800. 
Entry related to prepaid expense 
Prepaid Rent          4,800 
          Cash                            4,800 
Adjusting entry 
          Rent Expense 
                        Prepaid rent 
10 Received $1,

A select list of transactions for Anuradha’s Goals follows: Apr 1 Paid six months of rent, $4,800. 10 Received $1,200 from customer for six-month service contract that began April 1. 15 Purchased...

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