Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
Adjusting enteries for September 30, 2021 1. The 12 month insurance policy was purchased on March 1 2. A physical count of supplies show $580
Adjusting enteries for September 30, 2021 1. The 12 month insurance policy was purchased on March 1 2.A physical count of supplies show $580 on hand as of September 30 3. Salaries for the last week of September have not been paid. September 30 was a Thursday. Weekly salaries are $750 4. $1 550 of the unearned revenue has been earned 5.You bought 12 months worth of insurance on April 1. Do the adjusting entery. 6.You take $1250 out of the business for personal use.
f Untitled spreadsheet Company YOUR NAME Cycling repair shop, Sheet1 Sheet2 Sheets Sheet4 Sheets Sheet 12 Trial Balance September 30, 2021 10 13 14 15 16 17 18 19 Bank $3,200.00 supplies $5,240.00 Accounts Receiv $6,630.00 Prepaid Insuranc $6,420.00 Account Payable Unearned Revenue Your name, capital Service Revenue Utilities expense $12,000.00 Rent expense $15,500.00 Salaries expense $52.250.00 $101,240.00 $6,400.00 $1.950.00 $50,000.00 $42,890.00 20 21 22 23 24 25 $101,240.00 tober 7 The Accounting Cycle Assessment You will need to a) b) c) d) Journalize the adjusting transactions next tab Complete the Income Statement for September 30, 2021 Complete the closing Enteries Do a Post closing tiral balance with the remaining accounts for September 30, 2021
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/6696aefc39c23_2276696aefbcfc64.jpg)
Adjusting enteries for September 30, 2021
1. The 12 month insurance policy was purchased on March 1
2.A physical count of supplies show $580 on hand as of September 30
3. Salaries for the last week of September have not been paid. September 30 was a Thursday. Weekly salaries are $750
4. $1 550 of the unearned revenue has been earned
5.You bought 12 months worth of insurance on April 1. Do the adjusting entery.
6.You take $1250 out of the business for personal use.
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/6696aefce61b3_2286696aefc70a83.jpg)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started