Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A. Complete the worksheet, using the following additional information. Ensure you show your calculations at the bottom of the worksheet. (Thinking: 15 marks) 1.
A. Complete the worksheet, using the following additional information. Ensure you show your calculations at the bottom of the worksheet. (Thinking: 15 marks) 1. Supplies ending count was $350 2. A customer prepaid $4 560 for some car repairs, it was originally recorded as Revenue but the service has not yet been completed 3. Unexpired insurance at October 31, 2020 is $600 4. There are no late bills 5. Depreciation uses the declining balance method. The capital cost allowance rate for equipment is 20%; for truck, 30%. Round up to the nearest dollar B. Journalize the adjusting entries in the general journal. The next page in the journal is page 42. (Application: 12 marks) C. Journalize the closing entries in the general journal. (Application: 8 marks) D. Take off a Post-Closing Trial Balance (Application: 5 marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started