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1. Adjustments (10 A, 5C) [15 marks] Given the information below, complete the adjustments for the quarter ending March 31. a. 6 months' insurance
1. Adjustments (10 A, 5C) [15 marks] Given the information below, complete the adjustments for the quarter ending March 31. a. 6 months' insurance was purchased for $7,200 on the 15th of January. b. The balance in the Unearned Revenue account is $5,400. 10% of the job has yet to be completed. c. A 5 year bank loan of $50,000 was obtained on January 1. Interest is to be paid at 4% p.a at the end of every year. d. Supplies were $4,900 at the beginning of the fiscal period. There was a purchase of $2,900 worth of supplies during the period. A count of supplies at the end shows $3,300 remaining. e. A Van that was originally purchased for $18,300 has accumulated depreciation of $4,128 and depreciates at 15% per annum using the declining balance method. Particulars P.R. Debit Credit
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