Transcribed Image Text: Page General Journal Account Titles & Explanation Date Ref. Debits Credits Transcribed Image Text: a. Protonix Corp has a payroll of $6,000 for a five-day week. Its

Transcribed Image Text: Page
General Journal
Account Titles & Explanation
Date
Ref.
Debits
Credits Transcribed Image Text: a. Protonix Corp has a payroll of $6,000 for a five-day week. Its employees are paid each Friday for the five-day
work week. The adjusting entry on December 31, 2015 assuming the year ends on Thursday would be:
b. A one-year insurance policy was purchased on June 1, 2015 for $1,500. The adjusting entry on December 31,
2015 to include the cost of the December expiring insurance only, would be:
c. Depreciation on Office Equipment is $3,300. The adjusting entry on December 31, 2015 would be:
d. The Supplies account had a beginning balance of $1,750. Supplies purchased during the period totaled
$3,500. At the end of the period before adjustment, $350 of supplies were on hand. Prepare the adjusting entry
for supplies.
e. The balance in the unearned fees account, before adjustment at the end of the year, is $10,250. Journalize the
adjusting entry required if the amount of unearned fees at the end of the year is $3,125.

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