Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Help Please Journalize the following adjusting entries as of fiscal year-end April 30, 2015. The supplies available at the end of fiscal 2015 year are

Help Please

Journalize the following adjusting entries as of fiscal year-end April 30, 2015.

The supplies available at the end of fiscal 2015 year are at a cost of $7,900.

The cost of expired insurance for the fiscal year is $10,600.

Annual depreciation on equipment is $7,000; no other depreciation adjustment was made in 2015.

The April utilities expense of $800 is not included in the adjusted trial balance, because the bill arrived after the trial balance was prepared. The $800 amount owed needs to be recorded..

The company's employees have earned $2000 of accrued wages in the fiscal year.

The rent expense not yet paid or recorded in the fiscal year is $3000.

Additional property taxes of $550 have been assessed for the fiscal year, but have not yet been paid or recorded in the accounts.

The $300 accrued interest for April has not yet been paid and reported.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing An International Approach

Authors: Wally Smieliauskas, Amy Kwan, Kathleen Cogliano, Catherine Barrette

8th Canadian Edition

1259451275, 978-1259451270

More Books

Students also viewed these Accounting questions