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Continuing with the transactions in 24., prepare the adjusting entries for the following transactions. All entries may not be used. 250 1. Depreciation Exp A/D
Continuing with the transactions in 24., prepare the adjusting entries for the following transactions. All entries may not be used. 250 1. Depreciation Exp A/D 250 3,000 2. Depreciation Exp A/D 3,000 240 Purchase office equipment for $6,000, fair market value = 6,500, estimated life 2 years. Pay $2,000 cash and sign a 30- day, 6%, note for $4,000. Prepare the adjusting entry for the interest accrual. 3. Interest Exp Int Payable 240 20 4. Interest Exp Int Payable 20 300 Purchase office equipment for $6,000, fair market value = 6,500, estimated life 2 years. Pay $2,000 cash and sign a 30-day, 6%, note for $4,000. Prepare the adjusting entry for depreciation 5. Office Supply Exp 300 Office Supplies 100 6. Office Supply Exp 100 Purchase $400 of office supplies on account. Prepare the adjusting entry for the supplies used if office supplies on hand total $100. Payroll for 10 days is $2,200. Prepare the adjusting entry for the wage accrual assuming the the month ends on a Monday the 30th, and the next payroll amounts to $2,200 for 10 days. Office Supplies 220 7. Wage Exp 220 Wage Payable 1980 8. Wage Exp 1980 Wage Payable
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