Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi I need help on what is the answer to this adjusting entries? Below is the question and other concerns will be in the comment

image text in transcribed

Hi I need help on what is the answer to this adjusting entries? Below is the question and other concerns will be in the comment section. I hope you can help me and surely I will give you full positive feedback

image text in transcribed
Adjusting entries of the ff: 1. Insurance expense on automobile for the year is P14,400. 2. Rent expense for the year is P72.000 3. Depreciation expense is: ofce equipment, P10.800; automobile. P48,000. 4. Salaries incurred but unpaid as of June 30. amounts to P9390. 5. Supplies on hand as of June 30. P3.000. 6. The unearned management fees were received and recorded on April 1, 2011. The advance payment covered six months management of an apartment building. 7. Accrued interest on notes payable. P15.000

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

Financial Accounting

Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.

12th edition

134725980, 9780134726656 , 978-0134725987

More Books

Students also viewed these Accounting questions