Question
Desoto Company must make three adjusting entries on December 31, 2019. Supplies used, $10,600 (supplies totaling $17,200 were purchased on December 1, 2019, and debited
Desoto Company must make three adjusting entries on December 31, 2019. Supplies used, $10,600 (supplies totaling $17,200 were purchased on December 1, 2019, and debited to the Supplies account). Expired insurance, $7,800; on December 1, 2019, the firm paid $46,800 for six months insurance coverage in advance and debited Prepaid Insurance for this amount. Depreciation expense for equipment, $5,400. Required:
Prepare the journal entries for these adjustments and post the entries to the general ledger accounts
This also needs the ledger
supplies
prepaid insurance
depreciation accumulated
depreciation expense
insurance expense
supplies expense
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