This exercise will provide practice in determining which adjusting entries may be reversed.

The following represent adjusting entries prepared for the Office Furniture Design Company.

1 Interest Expense

700

Interest Payable

700

2.Depreciation Expense

1.100

Accumulated Depreciation

I. 100

3.Rent Receivable

600

Rent Rayne

110

4.Insurance Expense

400

Prepaid Insurance

400

5.Accounts Receivable (or Fees Receivable)

300

Fees Revenue

300

6.Supplies Expense

200

Prepaid Supplies

200

7.Salaries and Wages Expense

I 000

Salaries and Wages Payable

I .UUU

8.Unearned Subscription Revenue

1.200

Subscription Revenue

1.200

Instructions

For each adjusting entry above (prepared at December 31, 2014), indicate if it would be appropriate to reverse the entry at the beginning of 2015. Indicate your answer by writing yes or no in the space provided.