Reference no: EM132161420
Question - An alphabetic listing of the ledger accounts for Ruberstein, Inc. as of April 30 are as follows:
Accounts Payable $1,200
Accounts Receivable 16,100
Advertising Expense 1,300
Cash 20,800
Common Stock 20,000
Equipment-Delivery van 13,000
Dividends 1,000
Notes Payable 20,000
Prepaid Insurance 4,800
Prepaid Rent 3,600
Service Revenue 16,100
Supplies 1,200
Unearned Revenue 4,500
Utilities Expense 740
Utilities Payable 740
Additional Information:
1. April depreciation for the delivery van is $217.
2. Interest on the loan from the bank is paid annually at a rate of 6%.
3. An inventory count of office supplies at April 30 showed $500 of supplies on hand.
4. Prepaid insurance has expired.
5. Employees' salaries earned during April but to be paid in May, $2,000.
Required:
Prepare all necessary adjusting journal entries. If required, round your answer to the nearest dollar.
What would be interest expense and payable?