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Groenke Construction Co. Adjustments December 31, 20x7 Account Names Debit Adjustments needed: 1. The supplies available at the end of the fiscal year 20x7 are
Groenke Construction Co. Adjustments December 31, 20x7 Account Names Debit Adjustments needed: 1. The supplies available at the end of the fiscal year 20x7 are at a cost of $5,700. 2. The company's employees have earned $3.500 in accrued wages for the fiscal year. 3. The cost of expired insurance for the fiscal year is $8,600. 4. The rent expense not yet paid or recorded in the fiscal year is $2,250. 5. Annual depreciation on equipment is $8,000; no other depreciation adjustment was made in 20x7. 6. The $450 accrued interest for December has not yet been paid and reported. 7. Additional property taxes of $625 have been assessed for the fiscal year but have not yet been paid or recorded in the accounts. 8. The December utilities expense of $425 is not included in the adjusted trial balance, because the bill arrived after the trial balance was prepared. The $425 amount owed needs to be recorded. 9. The company paid dividends of $15,575 to its shareholders on record
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