Question
1 Recognize the rent expense 2 Cleaning equipment is depreciated for 5 years. The salvage value is zero. The company uses straight line depreciation method.
1 Recognize the rent expense 2 Cleaning equipment is depreciated for 5 years. The salvage value is zero. The company uses straight line depreciation method. 3 The truck is depreciated for 5 years. The salvage value is $3,000. The company uses straight line depreciation. 4 Recognize the insurance expense. 5 Recognize the revenue from 1 month service that has been provided to a client from September 2 transaction. 6 At the end of September, the company has $6,500 supplies available. 7 The company pays $2,000 salary every Friday. September 30 is Monday. 8 The company has provided a $5,000 service to a client that has not been billed. Required: 1 Prepare the adjusting entries. 2 Post the adjustments to the General Ledger. 3 Calculate the adjusted balances for the affected accounts. 4 Prepare the Adjusted Trial Balance for Wayzata Cleaning, Inc. at September 31, 2015. 5 Prepare the Financial Statements for Wayzata Cleaning, Inc. ending and on September 31, 2015.
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