Chapter 3:  Adjustments Quiz
In the accounts below, I have filled in one-half of an adjustment…can you pick out the other half?
Remember that these are end-of-period adjusting entries…so cash will not be used.
Hint:  each adjustment requires a revenue (credit) or expense (debit)
There are 9 transactions… good luck!
JOHNSON CONSULTING
ASSETS   LIABILITIES   OWNER'S EQUITY
Cash   Accounts Payable   Johnson Drawing Johnson Capital
not used not used          
for adj. for adj.          
Allowance for     OPERATIONS    
Accounts Receivable Uncollectible Accounts     Notes Payable   Rent Expense Service Revenue
A    I          
             
   
Prepaid Rent   Interest Payable   Supplies Expense
  B        
         
   
Supplies   Unearned Revenue   Depreciation Exp.
  C   H   D 
         
Accumulated Depreciation    
Equipment Equipment     Salaries Payable   Salaries Expense
        G    
           
Accumulated Depreciation    
Buildings Buildings       Interest Expense
    E     F
         
    Uncollectible-Account
    Expense