Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

0 . QUESTION MARKS Property Company represerye Presented below to the water the mothee 2001 adjustments have been made. The company prestige tory Property Company

image text in transcribed
0 . QUESTION MARKS Property Company represerye Presented below to the water the mothee 2001 adjustments have been made. The company prestige tory Property Company Tralalance Selected Acco) June 30, 2021 Accounts the Det Credit Supplies 3,200 Prepaid insurance 4,200 Equipment 16200 Accumulated depreciation Equipment 1,200 Buildings 30.000 Accumulated depreciation - Huldings Notes Payables 30.000 Owner's Equity Rent revenue Unearned rent revenue 53.600 2000 15 000 300 1.500 $1,600 An analysis of the account shows the following 1. A physical count of supplies revealed AED 1.800 on hand on Jane 30.3.200 +1,800 - 5000 2. Insurance expires at the rate of AED150 per month 3. Equipment has been depreciated AED275 per month and buildings being depreciated AED450 per month 4. The amount of unearned rent revenue that remains unearned at June 30 is AED500 5. Accrued salaries at June 30 is AED1,450. REQUIRED: (7 marks) a. Journalize the adjusting entries as at June 30. ( b. Post the entries to ledger (for all affected accounts). (7 marks) c. Prepare adjusted Trial Balance as at June 30. (6 marks) -END OF QUESTION PAPER

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions