29.Prepare the required end-of-period adjusting entries for each independent case listed below.

Case 1

Moonbeam Company began the year with a $3,000 balance in the Supplies account. During the year, $8,500 worth of additional office supplies were purchased. A physical count of office supplies on hand at the end of the year revealed that $4,400 worth of office supplies had been used during the year. No adjusting entry has been made until year end.

Case 2

Western Company has a calendar year-end accounting period. On July 1, the company purchased office equipment for $30,000. It is estimated that the office equipment will depreciate $500 each month. No adjusting entry has been made until year end.

Case 3

Ranch Realty is in the business of renting several apartment buildings and prepares monthly financial statements. It has been determined that 3 tenants in $800 per month apartments and one tenant in the $1,000 per month apartment had not paid their August rent as of August 31st.

30.Given the following account information for Leong Corporation, prepare a statement of financial position in report form for the company as of December 31, 2019. All accounts have normal balances.

Equipment 40,000

Interest Expense 2,400

Interest Payable 600

Retained Earnings ?

Dividends 50,400

Land 157,320

Inventory 102,000

Bonds Payable 78,000

Notes Payable (due in 6 months) 24,400

Share CapitalOrdinary 60,000

Accumulated Depreciation - Equip. 10,000

Prepaid Advertising 5,000

Revenue 351,400

Buildings 80,400

Supplies 1,860

Taxes Payable 3,000

Utilities Expense 1,320

Advertising Expense 1,560

Salaries and Wages Expense 53,040

Salaries and Wages Payable 900

Accumulated Depr. - Buildings 15,000

Cash 40,000

Depreciation Expense 8,000