Question
enter the following information , taken at month-end in the trial balance by entering the letter (on the left) and amount ( on the right)
enter the following information , taken at month-end in the trial balance by entering the letter (on the left) and amount ( on the right) of each adjustment in the 'adjustments ' column for the appropriate accounts .then fill in the 'adjusted trial balance ' column with the balances of each account
a. Dylex Corporation purchased furniture at the start of the month . the furniture cost $12000 and is expected to have a residual value of 3000
at the end of its five year life .
b. $2400 of the consulting fees paid to Dylex Corporation in advance has been earned
c. property taxes of $400 have accrued but are unrecorded .
d. Dylex Corporation rents part of its building for a monthly fee of $1750 . the rent for the month has not been received.
e. the estimated monthly depreciation on the equipment is $ 130
f. $750 of the insurance policy purchased in advance has expired.
g. $250 of interest has accrued on a note receivable and is unrecorded
h. Accrued salaries of $1500 were not recorded at month end .
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started