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Express Package provides delivery of over-sized packages to the urban areas. It is owned by Ellen Young. Here are the adjustments of the business at
Express Package provides delivery of over-sized packages to the urban areas. It is owned by Ellen Young. Here are the adjustments of the business at the end of November 2021. Nov 30 The business performed some work for a customer in the amount of $2,160, which will be paid at a later date. Nov 30 Of the unearned revenue amount, $440 still remains unearned. The equipment was purchased on November 1, 2021 and have an expected useful life of five years, after which they will Nov 30 have no residual value. Record depreciation for November Nov 30 The balance of prepaid rent is for a 8-month lease, one month of rent has been used. Nov 30 One month of interest has accrued on the bank loan. The interest rate is 8% per year. Required Using the following trial balance, complete the adjustments and the adjusted trial balance in the worksheet
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