Question
in Accounting Question Description 1. depreciation of $100 per month will be taken on the furniture 2. It is estimated that the store equipment will
in Accounting
Question Description
1. depreciation of $100 per month will be taken on the furniture
2. It is estimated that the store equipment will have a $1000 value at the end of its estimated five-year useful life. Joanne Cardinal will record a full month of depreciation for august.
It was determined that the balance in unearned haircutting services revenue at august 31 should be $ 420.
The prepaid insurance represents six months of insurance beginning august 1.
on 5 th august 31, the cutlery provided $130 of services to a client who will pay in September.
On August 31, Joanne cardinal received the business august cell phone bill totalling $ 50 will be paid in September.
Prepare the adjusting entries needed on august 31,2017 to record the previously unrecorded items.
prepare T accounts for accounts affected by the adjusting entries. Post the adjusting entries to the t-accounts.
Prepare an adjusted trial balance
Prepare an income statement a statement of changes in equity and a balance sheet
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started