Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I have the adjusting entries Adjusting entries Dec31(a) Computer supplies expense $3,065 2545+1100-580 Computer Supplies $3,065 Computer supplies used Dec31(b) Insurance expense $555 2220/12*3 months
I have the adjusting entries
Adjusting entries | ||||
Dec31(a) | Computer supplies expense | $3,065 | 2545+1100-580 | |
Computer Supplies | $3,065 | |||
Computer supplies used | ||||
Dec31(b) | Insurance expense | $555 | 2220/12*3 months | |
Prepaid Insurance | $555 | |||
Insurance expired | ||||
Dec31(c) | Wages expense | $500 | 125*4days | |
Wages Payable | $500 | |||
Wages owed but not yet paid | ||||
Dec31(d) | Depreciation expense-Computer Equipment | $1,250 | 20000/4 years*3/12 | |
Accumulated Depreciation-Computer Equipment | $1,250 | |||
Depreciation expense on computer system | ||||
Dec31(e) | Depreciation expense-Office Equipment | $400 | 8000/5 years*3/12 | |
Accumulated Depreciation-Office Equipment | $400 | |||
Depreciation expense on office equipment | ||||
Dec31(f) | Rent expense | $2,475 | 3300/4*3 months | |
Prepaid Rent | $2,475 | |||
Rent expired |
please I need help with the closing entries
GENERAL JOURNAL GENERAL JOURNALStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started