. For the transactions below, assume the companies make adjustments. Record the

appropriate adjusting entries for each case, showing calculations!

( /10T)

1)

The supplies account balance on December 31st was $4,000. Supply storeroom count

found that only $2,750 of supplies were remaining. Make the adjusting entry for

December 31 st to reflect this.

2)

An insurance policy bought on August 1st, 2003 for $6,000 was to last for four years.

What is the adjusting entry for May 31st, 2004?

3) Machine purchased January 1 st, 2019 for $49,000 is expected to last 40 years with a

salvage value of $1,000. What is the adjusting entry for year-end May 31st, 2019

using straight line depreciation?

4) Yolanda bought an annual insurance for her car at $5400 on June 1st, 2020. What is

her year-end adjusting entry on Dec 31st, 2020?

5) Office Equipment purchased for $10,000 January 1st, 2015 is depreciated at the rate

of 20%. It has a salvage value of $2,000 and useful life of 5 years. What is the

adjusting entry for year-end December 31st , 2020?

DATE PARTICULARS PR DEBIT CREDIT