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I need help posting adjusting journal entry. a. One month of insurance expired during December is $900. b. Supplies on hand on December 31 are
I need help posting adjusting journal entry.
a. One month of insurance expired during December is $900. b. Supplies on hand on December 31 are valued at $4,900. c. Depreciation of office equipment for December is $1,000. d. One month of rent expired during December is $2,000. e. Determined that the company had performed $4,500 of the services for which it was paid in advance on December 4th. f. Employees were owed $1,500 for wages for the month of December. The employees will be paid the first week in January. Services were performed for a client on December 31 in the amount of $2,500. The client did not pay, nor has the client been billed. (Hint: This transaction has not yet been journalized.) Debit Service Revenue Date Explanation 12/12 12/17 12/20 12/24 Bal. No. 41 Credit 5,200 14,000 15,000 4,000 38,200 12/31 4,500 12/31 BalStep by Step Solution
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