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Prepare a basic analysis and a debit-credit analysis

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Question - Crane Services Company records adjusting entries on an annual basis. The following information is available to be used in recording adjusting entries for the year ended December 31, 2021.

1. Prepaid insurance totalling $255 has expired.

2. Supplies of $255 have been used.

3. Annual depreciation on equipment is $1,105.

4. Services related to unearned revenue of $155 were performed.

5. Salaries of $705 are unpaid.

6. Utility expenses for 2021 of $155 are unrecorded and unpaid.

7. Services provided but not collected in cash or recorded total $905.

8. Interest of $80 on a note payable has accrued.

Required - For each adjustment, prepare a basic analysis, a debit-credit analysis.

Reference no: EM133111511

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