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Journalize and post the adjusting entries then prepare the adjusted trial balance for the end of the month. Journalize and post the adjusting entries. a)
Journalize and post the adjusting entries then prepare the adjusted trial balance for the end of the month.
Journalize and post the adjusting entries. a) One month of Insurance has expired. b) Supplies on hand on at the end of the month are $1,500. c) Accrued receptionist salary for the remainder of the month is $200. d) One month of rent was used. e) Unearned fees at the end of the month are $2,500. f) $3,500 of fees needs to be accrued g) Calculate the interest for one month on the Note Payable using a 4% interest rate. (Use the Note Payable account and round to nearest whole number.) h) Depreciation of office equipment for the month based on SL depreciation over 5 years. (Round to nearest whole number) i) Bad Debt is 1% of sales for the month. (Round to nearest whole number) (Hint: Use the revenue balance after other adjusting entries have been completed) Elington Consulting Trial Balance Dec 31, 2022 General Journal Journalize and post the adjusting entries. a) One month of Insurance has expired. b) Supplies on hand on at the end of the month are $1,500. c) Accrued receptionist salary for the remainder of the month is $200. d) One month of rent was used. e) Unearned fees at the end of the month are $2,500. f) $3,500 of fees needs to be accrued g) Calculate the interest for one month on the Note Payable using a 4% interest rate. (Use the Note Payable account and round to nearest whole number.) h) Depreciation of office equipment for the month based on SL depreciation over 5 years. (Round to nearest whole number) i) Bad Debt is 1% of sales for the month. (Round to nearest whole number) (Hint: Use the revenue balance after other adjusting entries have been completed) Elington Consulting Trial Balance Dec 31, 2022 General Journal Step by Step Solution
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