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Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid, Accrual, or Depreciation. Use Unadj. Bal. as the label for the opening
Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid, Accrual, or Depreciation. Use Unadj. Bal. as the label for the opening balance of each account. Calculate the adjusted balance and use a Bal. posting reference to show the ending balance of each account. Enter each transaction on the first available line in the T-Account. The unadjusted balance of Office Supplies at Dec. 31 is $7,400 and at year end the office supplies on hand totaled $1,770. Adjustment Type: Supplies Expense Office Supplies Depreciation for the current year includes Equipment, $300. The Accumulated Depreciation - Equipment unadjusted balance as of December 31 is $8,600. Adjustment Type: Depreciation Expense - Equipment Accumulated Depreciation - Equipment III Recieved a bill for utilities for $5,280 which will be paid next month. Adjustment Type: Utilities Expense Utilities Payable
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