ACCT 201 1st Edition Lecture 11 Outline of Last Lecture Currently unavailable Outline of Current Lecture I More examples of credit and debit Current Lecture Oct 1 DR Supplies CR Cash 500 500 Oct 31 DR Supplies expense CR Supplies Assets Supplies 100 Liabilities Oct 1 DR Prepaid insurance CR Cash 100 100 SE Supplies expense 100 12 000 for one year 12 000 Oct 31 DR Insurance expense CR Prepaid insurance 1000 Assets Liabilities Prepaid insurance 1000 SE insurance expense 1000 Oct 1 2014 DR Equipment CR Account Payable 10 000 10 000 10 yr life no salvage value These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute Oct 1 2015 DR Depreciation expense CR Accumulated Depreciation Equipment Assets L Accum Dep 1000 1000 1000 SE Dep expense 1000 Oct 1 2014 DR Cash 100 000 CR Unearned Revenues 100 000 Oct 1 2015 DR Unearned Revenue CR Service Revenue A Equipment Less Accum Dep 10 000 10 000 L SE Unearned Rev Service Rev 10 000 10 000 10 yr contract 10 000 1000 9000
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