Adjusted Entries 1) To create an adjusting entries using the following information in the General Journal with
Question:
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Adjusted Entries
1) To create an adjusting entries using the following information in the General Journal with calculations on the side.
a) Depreciation of the house
b) Depreciation of the furniture
c) Interest on the promissory note
d) Recognition of the expired portion of the insurance
e) Recognition of a portion of the guest's deposit
f) Wages earned during the second half of January amount to $5,120 and will be paid on February 3.
g) Cleaning supplies on hand on January 31 amount to $230.
h) A gas and electric bill that is received from the city amounts to $740 and is payable by February 5.
i) Income taxes are to be accrued at a rate of 30% of income before taxes.
2)Post the adjusting entries on Janurary 31 below to the General Ledger T-accounts and compute adjusted balances. Just add to the balances that are already listed.
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