Prepare year end adjusting entries for each of the following transactions 1 answer below »

Adjusting entries

e9A. Prepare year-end adjusting entries for each of the following:

1.    Office Supplies has a balance of $168 on January 1. Purchases debited to Office Supplies during the year amount to $830. A year-end inventory reveals supplies of $570 on hand.

 

 

 

 

 

2.    Depreciation of office equipment is estimated to be $4,260 for the year.

3.    Property taxes for six months, estimated at $1,750, have accrued but have not been recorded.

4.    Unrecorded interest income on U.S. government bonds is $1,700.

5.    Unearned Revenue has a balance of $1,800. Services for $600 received in advance have now been performed.

6.    Services totaling $400 have been performed; the customer has not yet been billed.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *