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1. At the end of the year, the unadjusted balance in the Prepaid Insurance account was $3,410. Based on an analysis of the insurance policies,
1. | At the end of the year, the unadjusted balance in the Prepaid Insurance account was $3,410. Based on an analysis of the insurance policies, $2,590 had expired by year end. | |
2. | At the end of the year, the unadjusted balance in the Unearned Revenue account was $1,830. During the last week of December, $520 of the related services were performed. | |
3. | On July 1, 2021, Grant signed a note payable for $11,500. The loan agreement stated that interest was 4%. | |
4. | Depreciation for the computer and printing equipment was $2,000 for the year. | |
5. | At the beginning of the year, Grants had $1,060 of supplies on hand. During the year, $1,310 of supplies were purchased. A count at the end of the year indicated that $690 of supplies was left on December 31. | |
6. | Between December 28 and December 31 inclusive (4 days), three employees worked eight-hour shifts at $17.25 per hour. The employees will be paid for this time worked on January 10. | |
7. | On December 31, it was determined that $4,600 of services had been provided but the bookkeeper did not record it.
Do the journal |
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