1.

If depreciation expense for building for the year ended is $8,000. Which of the following is the correct adjusting entry to record the depreciation expense?

a. Debit depreciation expense for $8,000 and credit accumulated depreciation - building for $8,000

b. Debit accumulated depreciation - building for $8,000 and credit depreciation expense for $8,000

c. Debit depreciation expense for $8,000 and credit building for $8,000

d. Debit accumulated depreciation - building for $8,000 and credit building for $8,000

2.

Asham Industries need to close their books and prepare financial statements for their bank. They need to prepare adjusting entries to update their accounts to reflect correct financial data. The following includes data related to all adjustments needed. Please prepare all necessary adjusting entries for Asham Industries for the month ended April 30, 2021.

1. Depreciation of building for the year, $4,800.
2. Depreciation of truck for the year, $1,200.
3. Accrued salaries and wages that have been used but have not been recorded, $850.
4. Prepaid insurance at April 1, 2021 was $6,000, unexpired prepaid insurance at April 30, 2021 is $1,500.
5. Fees earned but unbilled on April 30, $10,200.
6. Supplies on hand at April 1, 2021 was $600. At the end of April, personnel did a count on supplies and found that only $250 worth of supplies was left.