1. ADJUSTING ENTRIES RECORDED IN A JOURNAL
Lesson 17-1
ADJUSTING ENTRIES RECORDED IN A JOURNAL 2 1 4 3 5 6
1. Heading
4. Debit
2. Date
5. Account Credited
3. Account Debited
6. Credit
Lesson 17-1, page 422

2. PARTIAL WORK SHEET SHOWING ADJUSTMENTS
Lesson 17-1, page 423

3. ADJUSTING ENTRY FOR MERCHANDISE INVENTORY
AFTER ADJUSTMENT
BEFORE ADJUSTMENT
Income Summary
Adj. (a) 15,840.00
Merchandise Inventory
Bal. 270,480.00
Bal. 270,480.00
Adj. (a) 15,840.00
(New Bal. 254,640.00)
Lesson 17-1, page 423

4. ADJUSTING ENTRY FOR OFFICE SUPPLIES INVENTORY
AFTER ADJUSTMENT
BEFORE ADJUSTMENT
Supplies Expense—Office
Adj. (b) 4,730.00
Supplies Expense—Office
Bal. 6,480.00
Bal. 6,480.00
Adj. (b) 4,730.00
(New Bal. 1,750.00)
Lesson 17-1, page 424

5. ADJUSTING ENTRY FOR STORE SUPPLIES INVENTORY
AFTER ADJUSTMENT
BEFORE ADJUSTMENT
Supplies Expense—Store
Adj. (c) 3,910.00
Supplies Expense—Store
Bal. 6,944.00
Bal. 6,944.00
Adj. (c) 3,910.00
(New Bal. 3,034.00)
Lesson 17-1, page 424

6. ADJUSTING ENTRY FOR PREPAID INSURANCE
AFTER ADJUSTMENT
BEFORE ADJUSTMENT
Insurance Expense
Adj. (d) 3,170.00
Prepaid Insurance
Bal. 5,800.00
Bal. 5,800.00
Adj. (d) 3,170.00
(New Bal. 2,630.00)
Lesson 17-1, page 424