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I need help in this question. Please do them correctly and 100%. 2 Prepare journal entries for Iron City's general fund for the following, Including
I need help in this question. Please do them correctly and 100%.
2 Prepare journal entries for Iron City's general fund for the following, Including any adjusting and closing entries on December 31, 20X1 (the end of the fiscal year): 5 points Required: a. Acquired a three-year fire Insurance policy for $5,100 on September 1, 20X1. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) eBook View transaction at Journal entry worksheet References Record the acquisition of the three-year insurance policy in 20x1. Note: Enter debits before credits General Journal Debit Credit Date September 01 Record entry Clear entry View general Journal 2 b. Ordered new furniture for the city council meeting room on September 17, 20X1, at an estimated cost of $15.700. The furniture was delivered on October 1; its actual cost was $15.300, its estimated life is 10 years, and it has no residual value. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 5 points View transaction Mat eBook Journal entry worksheet Print Record the encumbrances for the purchase orders of the new furniture in o 20x1. References Note: Enter debits before credits General Journal Debit Credit Date September 17 Record entry Clear entry View general Journal 2 Record entry Clear entry View general Journal 5 points c. Acquired supplies on November 4, 20x1, for $2.400. Iron City uses the consumption method of accounting Supplies on hand on December 31, 20x1, were $1,140. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) eBook Print View transaction Mat References Journal entry worksheetStep by Step Solution
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