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Golden Eagle Company prepares monthly financial statements for its bank. The November 30 adjusted trial balance includes the following account information: Supplies Prepaid Insurance Salaries
Golden Eagle Company prepares monthly financial statements for its bank. The November 30 adjusted trial balance includes the following account information: Supplies Prepaid Insurance Salaries Payable Deferred Revenue November 30 Debit Credit $1,800 7,200 $10,600 2,600 The following information is known for the month of December: 1. Purchases of supplies during December total $4,100. Supplies on hand at the end of December equal $3,300. 2. No insurance payments are made in December. Insurance cost is $1,800 per month. 3. November salaries payable of $10,600 were paid to employees in December. Additional salaries for December owed at the end of the year are $15,600. 4. On November 1, a tenant paid Golden Eagle $3,900 in advance rent for the period November through January, and Deferred Revenue was credited for the entire amount. Required: Show the adjusting entries that were made for supplies, prepaid insurance, salaries payable, and deferred revenue on December 31. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) X View transaction list View journal entry worksheet Debit Credit No Date General Journal 2,600 1 December 31 Supplies Expense Supplies 3,300 1,800 2 December 31 Insurance Expense Prepaid Insurance 5,400 1 of 18 Prev Next >
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