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Hey i need help with this Thank you PART II: Year-end adjustments (20 POINTS) The following Year-End Adjustments are required. Type in the correct descriptions
Hey i need help with this Thank you
PART II: Year-end adjustments (20 POINTS) The following Year-End Adjustments are required. Type in the correct descriptions and debits and credits for each account. 1. Balance for Office Supplies on 30 June 2021 is $5750. 2. Annual Depreciation rate for Plant is fixed at 8%. 3. Furniture & Fixtures depreciates at 17% every year. 4. 1 year worth of Prepaid Rent was paid on 1st October 2020. 5. Interest owing is estimated to be $2600. Prepare the Adjusting Journal entries as at 30th June 2021. General Journal Date Description DEBIT CREDIT 30 Jun 21 Office Supplies Expense $5750 Office Supplies $5750. To record used office supplies Date Description DEBIT CREDIT 30 Jun 21 Page 4 of 7 Date Description DEBIT CREDIT 30 Jun 21 Date Description DEBIT CREDIT 30 Jun 2 Date Description DEBIT CREDIT 30 Jun 21Step by Step Solution
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