Question
1. Interest expense - short-term loan 2. Insurance expense - product liability insurance policy 3. First month of subscription revenue earned from the company featured
1. Interest expense - short-term loan
2. Insurance expense - product liability insurance policy
3. First month of subscription revenue earned from the company featured magazine, "Humpty Dumpty
4. You completed 30% of Toy repairs for ThinkFun Toys during May
5. Office supplies on hand at 30th May is $341 incl. GST
Depreciation expense - plastic welding machinery, using the units of production method
7. Depreciation expense - computer, using the diminishing balance method.
8. Interest earned at month end
9. You are required to pay for an invoice for a week's (27 May to 29 May) fuel bill of $484 incl. GST from Texaco Petrol. This is not yet paid yet. Record the relevant adjusting entry.
10. Advertising expense amount for the month of May
11. Provision for warranties is equal to 5% of sales
12. Estimate of doubtful debts is 10% of Accounts Receivable as at 31 May
13. Salaries expense accrued for May
14. Warehouse rent expense accrued for May.
15. Depreciation expense Delivery Van, using the straight-line method.
16. Depreciation expense Store Building, using the straight-line method
17. Interest expense accrued on the loan for Building of the Head Office
18. 40% of deliveries are performed during May.
19. Telecommunication accrued for May.
20. Insurance expense, Fire insurance.
Adjusted entries. the number are random, i just need to know how to do it and an explanation will really help m. thanks!
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