Adj. Entries

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1)Physical count of office supplies, $4,350 of supplies remained at the end of 2018. The balance on the worksheet in the office supplies account represents last years ending balance. During the year, $38,000 of office supplies were purchased & immediately expensed.

2) On November 1, 2018 Company paid E. Advertising $12,800 for a four month campaign of advertising services. Equal services are provided each month.

3) Because of a new product line, company needed some temporary additional storage space so on 3/ 1/ 2018 they rented a unit for an annual rate of $13,600 and they paid the entire amount up front.

4) The storage building was self-constructed this year by the Co. The Company had their initial expenditure of $400,000 on January 1. They paid an additional $300,000 on May 1, $200,000 on August 1, and then the final payment of $120,000 on December 1 when the building was completed and occupancy occurred. The company has decided to use S/L method for depreciation. The storage building is estimated to have a life of 40 years and a salvage value of $56,350. The company depreciates using partial years.