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journalize adjusting entries Adjustments On February 28, you notice the following: a) You have used up one months worth of insurance (On September 1, Laurie
journalize adjusting entries Adjustments On February 28, you notice the following: a) You have used up one months worth of insurance (On September 1, Laurie purchased a 9 month insurance policy for $6,903 ). b) You need to recognize depreciation on the equipment (washers and dryers). c) You have earned one months worth of rent d) You have only \$1,743 worth of supplies on hand. e) You need to recognize interest accumulated on the loan. f) You need to recognize depreciation for the month on a building you bought on August 1st, 2021. It has an expected life of 35 years, a $315,315 salvage value, and you use straightline depreciation. See chart of accounts for cost information. g) You have accrued salaries of $1,160. h) You need to recognize/accrue federal income taxes of 28%. Round to the nearest dollar if needed. Hint: compute adjusted income based on all preceding information, and then determine and record income tax expense
journalize adjusting entries
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