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Filnt Hills, Incorporated has prepared a year-end 2024 trial balance. Certain accounts in the trial balance do not reflect all activities that have occurred. 1.
Filnt Hills, Incorporated has prepared a year-end 2024 trial balance. Certain accounts in the trial balance do not reflect all activities that have occurred. 1. The Supplies account shows a balance of $660, but a count of supplies reveals only $270 on hand. 2. Flint Hills initially records the payments of all insurance premiums as expenses. The trial balance shows a balance of $480 in Insurance expense. A review of insurance policies reveats that $155 of insurance is unexpired. 3. Flint Hills employees work Monday through Friday, and salaries of $3,000 per week are paid each Friday. Flint Hills' year-end falls on Tuesday. 4. On December 31, 2024, Flint Hills received a bill for $250 for utilities incurred during December. The bill will be paid in early January of 2025 . Required: Prepare adjusting joumal entries, as needed, for the above items. Note: If no entry is required for a transoction/event, select "No journal entry required" in the first account field
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